Thu, Jul. 9, 7:59 AM
- Conn's (NASDAQ:CONN) names Thomas Moran as its new CFO, effective July 27, after served as CFO of boating supplies retailer West Marine.
- Moran succeeds Mark Haley, who served as interim CFO and will continue as VP and Chief Accounting Officer.
- Earlier: Conn's reports May sales and key delinquency rate
Thu, Jun. 4, 7:42 AM
Tue, Jun. 2, 1:17 PM
- Retail chain stocks are putting in some strong gains despite a soft read earlier in the day from Redbook on sales.
- PVH issued a strong report last night which helped push the sector in the right direction, but there also appears to be some speculative buying on some names in the sector after Macy's was reported to be under pressure to explore REIT options.
- Previously: Macy's hearing from hedge funds on real estate assets
- Gainers: Guess (NYSE:GES) +5.1%, Tilly's (NYSE:TLYS) +4.4%, Abercrombie & Fitch (NYSE:ANF) +5.7%, Kohl's (NYSE:KSS) +1.6%, J.C. Penney (NYSE:JCP) +2.9%, Bon-Ton Stores (NASDAQ:BONT) +4.6%, Stein Mart (NASDAQ:SMRT) +2.7%, Sears Hometown and Outlet Stores (NASDAQ:SHOS) +2.4%, Conn's (NASDAQ:CONN) +5.8%, Best Buy (NYSE:BBY) +1.7%, hhgregg (NYSE:HGG) +2.8%.
Tue, Jun. 2, 7:46 AM
- Conn's (NASDAQ:CONN) reports same-store sales decrease 4.3% in Q1,
- Net sales by category: Furniture and mattress: $89.50M (+10.6%); Home appliance: $84.10M (+9.1%); Consumer electronics: $71.43M (+7.5%); Home office: $21.99M (-8.2%); Other: $4.61M (-21%); Repair service agreement commissions: $23.8M (+17.5%); Service revenues: $3.06M (-3.1%).
- Credit revenue +15.9% to $66.4M during the quarter.
- Furniture unit volume increased 12.4% & mattress unit volume grew 17.3%.
- Home appliance unit volume increased 13.3%.
- Retail gross margin -10 bps to 41.3%.
- Adjusted retail operating margin +30 bps to 14.5%.
- FY2016 Guidance: Same-store sales: flat to up low single digits; Retail gross margin rate: 40% to 41%; New stores: 15 to 18.
- CONN +2.28% premarket.
Tue, Jun. 2, 6:03 AM
Mon, Jun. 1, 5:30 PM
Wed, May 27, 12:35 PM
- Conn's (NASDAQ:CONN) falls 4.2% on strong volume with a negative report out from Copperfield Research sitting as a possible factor in the action.
- The thesis from Copperfield is that the run-up in shares of Conn's after it announced it will try to monetize its credit portfolio isn't justified.
- Copperfield Research's SA Instablog
Fri, May 22, 9:28 AM
Mon, May 11, 11:59 AM
- Piper Jaffray sees a strong possibility Conn's (CONN +6.9%) will sell its loan portfolio.
- A sale could generate as much as $1.2B for the company.
- Another positive catalyst identified by Piper is a potential new strategy by Conn's to sell off all receivables immediately after they are underwritten to remove credit risk.
- Shares of Conn's are rated Overweight by Piper with a $45 price target.
- Piper Jaffray research note
Tue, May 5, 6:45 AM
- Oppenheimer upgrades Conn's (NASDAQ:CONN) to an Outperform rating from Perform.
- The investment firm sets a price target of $39 on the retailer.
- Conn's is coming off a quarter of inventory disruptions and an improved delinquency rate.
- Previously: Heard during Conn's earnings call (March 31)
- Previously: Inventory disruptions cut into sales at Conn's (April 9)
- CONN +0.97% premarket to $30.34. YTD +60.8%.
Thu, Apr. 9, 7:25 AM
- Conn's (NASDAQ:CONN) reports same-store sales fell 6.8% in March.
- The furniture and mattress category fell off 9.9%, while the home office comp was -16.2%.
- The company says inventory disruptions tied to the West Coast port slowdown was a major influence during the month.
- The 60-day delinquency rate at Conn's fell 50 bps M/M to 8.7%.
Tue, Mar. 31, 1:21 PM
- Conn's (CONN +12.1%) trades higher after reporting earnings and disclosing it's considering a sale of its loan portfolio.
- Execs talked about the deal during the earnings call, saying the company still plans to originate and underwrite loans.
- Underwriting changes by the company will impact comps going forward.
- Appliances, furniture, and mattresses are categories where comp growth can stay positive, maintains management.
- Conn's earnings call webcast
- Previously: Conn's EPS of $0.42
- Previously: Conn's reports 1.3% comp, guides for margin improvement
Tue, Mar. 31, 12:45 PM
Tue, Mar. 31, 7:20 AM
- Conn's (NASDAQ:CONN) reports same-store sales rose 1.3% in FQ4, dragged down by a 5.8% comp slide in February.
- Furniture and mattress sales +25% to $90.33M.
- Home appliance sales +19.5% to $84.46M.
- Consumer electronics sales +21.9% to $108.37M
- Retail gross margin -110 bps to 39.5%.
- 60-day customer delinquency rate +90 bps Y/Y and -30 bps Q/Q to 9.7%.
- FY16 guidance: A flat to low single-digit comp is seen. Retail gross margin expected to improve to 40% to 41%.
- Previously: Conn's EPS of $0.42
- CONN -0.1% premarket.
Tue, Mar. 31, 6:07 AM
Mon, Mar. 30, 5:30 PM
Conn's Inc is a specialty retailer of branded durable consumer goods offering products such as furniture and mattresses, home appliances, consumer electronics and home office products. It also provides consumer credit to support its customers' purchases.
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