Conn's Quarterly Comps Soar 23%
By Alan Wolf -- TWICE, 11/21/2005
BEAUMONT, Texas — Replacement sales in the wake of hurricanes Rita and Katrina helped Conn's same-store sales soar 23.3 percent during its fiscal third quarter, ended Oct. 31, while net revenue rose 32.9 percent over the comparable prior year period to $153 million.
Although the regional white- and brown-goods chain lost 134 store-days to Hurricane Rita, net sales were ultimately buoyed by both storms as affected customers began replacing damaged appliances and electronics, the company said.
“While the storms ultimately had a positive impact on our outstanding sales performance this quarter, our focus on continuing to execute at the highest level despite the obstacles in our path allowed us to achieve these results,” said Tom Frank, Conn's chairman/CEO.
