Originally published at www.seclive.com
Filing in Focus: Conn's 10-K, March 27, 2014
Conn's, Inc. (NASDAQ:CONN) announced its financial results for the fourth quarter and full fiscal year 2013, reporting increases in both revenue and earnings. The specialty retailer reported a quarterly same-store sales increase of 33.4% while annual same-store sales improved 26.5%. During the year, the company opened 14 new stores, eight of which were opened in the fourth quarter alone. Quarterly net sales jumped 45% from $208.4M to $301.6M while annual net sales rose from $714.3M to $993.4M. Quarterly earnings improved from $17.7M and $0.50 per share a year ago to $27.7M and $0.75 per share. Annual earnings rose from $52.6M and $1.56 per share in 2012 to $93.5M and $2.54 per share for 2013. Chairman and CEO Theodore Wright commented that its high margins in furniture and mattress, along with other segments, helped drive the company forward and expects same-store sales in 2015 to be between 5% and 10%.
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