Conn’s Quarterly Sales Soar 21%

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Beaumont, Texas — Picked up by what it called “outstanding sales performance,” specialty retailer Conn’s recorded a 21 percent increase in revenue during its fiscal second quarter, climbing to $143.9 million, up from a year-ago $118.9 million. Same-store sales in the three months, ended July 31, jumped 12.1 percent.

“Our sales performance for the quarter was outstanding and is directly attributable to improvements in staffing levels, training and execution on the sales floor,” said Thomas Frank, chairman/CEO. “The results are satisfying, and I believe that we will experience continued growth due to our constant focus on superior performance within the four cornerstones of our business model — credit, distribution, service and training,” said Frank. “That performance in turn enhances customer retention and new customer growth.”

Conn’s, which retails a combination of major appliances, consumer electronics, computers and peripherals, lawn and garden products and mattresses, reported net sales of $282.8 million for the six months, a 19.1 percent increase over the $237.4 million that came in during the same period last year. Same-store sales for the six months rose 10 percent.

Conn’s net sales represent net product sales, delivery charges, service revenues and commissions from service maintenance agreements. Revenues from finance charges and other for the quarter and the six months, along with earnings for both periods, will be reported on August 30.


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