Conn's rips higher after strong FQ1 numbers

Conn's (CONN) reports same-store sales rose 15.2% in FQ1.

Furniture and mattress sales increased 64.7% as the company's shift in strategy away from electronics paid off. The category now accounts for 29.2% of all of Conn's sales, compared to 23.5% a year ago.

Retail gross margin +110 bps to 41.4%.

The company sees FY15 comps rising in a 5% to 10% range.

CONN +7.1% premarket

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