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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.
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.
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.
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.
The Woodlands, Texas — Majap, home-furnishings and CE chain Conn’s has opened two Homeplus-format stores in Oklahoma and New Mexico.
The Homeplus design devotes added floor space to the retailer’s fast-growth furniture and mattress categories. Conn’s converted 20 existing stores to the format last year.
The new locations bring the company’s store count to 70 across five states and Conn’s said it plans to open between 10 and 12 locations during its current fiscal year.
The Woodlands, Texas — Conn's reported major revenue gains for its fiscal fourth quarter and year, and posted net income gains for both periods, ended Jan. 31.
In its fiscal fourth quarter, consolidated revenues grew 10.4 percent from the prior-year period to $250.3 million. Net income for the quarter was $17.7 million, up from the prior year’s $7.7 million.
Same-store sales increased 7 percent year over year, on top of same-store sales growth of 12.1 percent last year, Conn’s reported.