Conn's Q1 Sales Climb 17.2%
By Alan Wolf -- TWICE, 5/23/2005
Beaumont, Texas — Conn's, the regional white- and brown-goods specialty chain, reported that net sales for its first fiscal quarter, ended April 30, increased 17.2 percent to a record $138.9 million, while same store sales rose 7.3 percent for the same period.
Sales results for the NATM Buying Corp. member include net product sales, delivery charges, service revenues and commissions from service maintenance agreement sales, but exclude revenues from finance charges.
“We are encouraged by the level of our sales increases both in total and on a comparable store basis,” said Tom Frank, chairman/CEO. “We believe such results validate our growth strategies which emphasize new stores in new markets and new products and new categories in existing stores.”
New categories for the company include notebook PCs and lawn tractors, while Conn's continues its Dallas expansion with the addition of four more units there this year, raising its metro area presence to 10 stores.
The double-digit sales gains follow a 13 percent spike in net sales during the prior quarter.
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