By Lisa Johnston
New products on display at the American International Toy Fair, held in N
The Woodlands, Texas — A remarkable fourth-quarter retail performance could not offset a sharp increase in late customer payments at Conn’s, forcing the chain to lower its earnings outlook.
The preliminary results, announced this morning, drove the company’s shares down by the double digits in pre-market trading.
Net retail sales for the fiscal fourth quarter, ended Jan. 31, rose 45 percent to $301.6 million and same-store sales soared 33.4 percent, while retail gross margin increased by more than 300 basis points to 40 percent year over year.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.
The Woodlands, Texas – Conn’s has opened four more HomePlus locations, bringing its store count up to 80.
Two of the stores are located in the recently opened markets of Arizona (Chandler) and New Mexico (Albuquerque), and the other pair is in the company’s core markets of Texas (Amarillo) and Louisiana (Shreveport).
It is expected to open its first stores in Colorado this quarter.
CES 2104 Las Vegas - National CE and IT distributor New Age Electronics named Conn’s as its 2013 Dealer of the Year last night at its annual CES customer appreciation gala at Caesars Palace, where guests were also entertained by Denver rock band The Fray.
Conn’s, the multiregional regional furniture, bedding, majap and CE chain, was selected based on its strong year-over-year revenue growth, close executive alignment, strategic partnership, sourcing of multiple brands and a consistent positive credit standing, the distributor said.
The Woodlands, Texas — Conn’s was firing on all cylinders in the third quarter as double-digit comp increases across nearly all product categories contributed to record sales and profits.
Net income more than doubled to $24.4 million for the three months, ended Oct. 31, on total revenue of $310.9 million, a 50.6 percent increase, while comp-store sales soared 35.1 percent.
Arvada, Colo. — Conn’s is about to enter the Denver market.
The multiregional furniture, bedding, majap and CE chain initially plans to open six to eight area stores beginning in the first quarter, and has leased a 264,000-square-foot distribution center in nearby Aurora, Colo., to support them.
The first showroom will be located in a 42,000-square-foot storefront here in this Denver suburb, and will be followed by stores in Aurora, Cold Springs and Greeley, Colo., Conn’s retail president David Trahan told TWICE.
The Woodlands, Texas — Conn’s said rising comp-store sales and product margins led to sharply higher earnings and revenue for its second fiscal quarter.
Net income rose 65.1 percent to $19.2 million for the multiregional furniture, appliance and CE chain, while net revenues rose 30.5 percent to $270.7 million for the three months, ended July 31.
Despite the strong results, the quarter came in shy of Wall Street estimates due to declines in Conn’s credit segment and the company’s share price fell in early morning trading.
Phoenix — Conn’s, the multiregional furniture, bedding, majap and CE chain, has opened its third Arizona showroom.
The new furniture-focused HomePlus format store is the company’s second in Phoenix, following its metro market debut here earlier in July.
Mesa, Ariz. – Conn’s, the multiregional furniture, bedding, majap and CE chain, has opened its second showroom in Arizona.
The HomePlus-format store, located here, is the company’s first in the Phoenix metro area.
The Woodlands, Texas — Conn’s said mattress and furniture sales, and store remodels and openings, drove double-digit revenue and profit gains during its fiscal first quarter.
The multiregional specialty chain reported a 92 percent increase in net income, to a record $22.2 million, and a 25 percent rise in net sales, to $209.4 million, for the three months, ended April 30.