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Sep. 25, 2015, 1:42 PM| Sep. 25, 2015, 1:42 PM | 2 Comments
Sep. 9, 2015, 12:40 PM
- Conn's (CONN -0.9%) names Norman Miller to be the company's new CEO.
- Miller, a former President at both Sears Automotive and DFC Global, will succeed Theodore Wright who will stay on the board as executive chairman.
- The retailer also decided to securitize $1.4B in consumer debt.
- Shares of Conn's have retreated from earlier gains on volume already 4X normal activity.
- Previously: Conn's EPS and revenue in-line (Sep. 09 2015)
- Previously: More on Conn's Q2 (Sep. 09 2015)
Sep. 9, 2015, 9:17 AM
Sep. 9, 2015, 6:52 AM
- Conn's (NASDAQ:CONN) reports same-store sales rose 3.1% in Q2.
- Net sales by category: Furniture and mattress: $98.88M (+21.5%); Home appliance: $97.26M (+15.3%); Consumer electronics: $69.68M (+1.1%); Home office: $22.94M (-4.7%); Other: $4.98M (-8.4%); Repair service agreement commissions: $27.76M (+33.9%); Service revenues: $3.45M (+2%).
- Credit revenue expanded 9.5% to $70.45M.
- Furniture unit volume grew 28.3% & mattress unit volume +26.7%.
- Home appliance unit volume increased 21.2%.
- Consumer electronic unit volume dropped 13.7%.
- Home office unit volume fell 15.2%.
- Retail gross margin increased 100 bps to 41.8%.
- Adjusted retail operating margin +180 bps to 14.2%.
- Retail store count +9 Y/Y to 95.
- FY2016 Guidance: Same-store sales: flat to up low single digits; Retail gross margin rate: 40.5% to 41.5%; New stores: 15 to 18.
Sep. 9, 2015, 6:04 AM
- Conn's (NASDAQ:CONN): Q2 EPS of $0.47 in-line.
- Revenue of $396.05M (+12.2% Y/Y) in-line.
Sep. 8, 2015, 5:30 PM
Aug. 31, 2015, 6:49 AM
- Conn's (NASDAQ:CONN) announces it will revise the issue date for August sales to September 9 to coincide with the company's Q2 earnings release.
- The company will also release the latest delinquency data on the same day. Conn's delinquency rate has been closely watched this year on some concerns over credit policies.
Aug. 10, 2015, 2:42 PM
- Conn's (CONN +7.3%), hhgregg (HGG +5.5%), Aaron's (AAN +3.2%), and Best Buy (BBY +1.8%) are all higher on decent volume.
- The bounce comes ahead of this week's report on retail sales in which some analysts think consumer electronics will top expectations.
- Previously: All eyes on U.S. Retail Sales report next week (Aug. 08 2015)
Jul. 13, 2015, 3:59 PM
Jul. 9, 2015, 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
Jun. 4, 2015, 7:42 AM
- Conn's (NASDAQ:CONN) announces sales rose 14.1% in May to $110.7M.
- Same-store sales were up 4% during the month, led by a strong 10.9% comp in the home appliance category.
- Conn's ended the month with a 60-day delinquency rate of 8.5%. vs. 7.8% a year ago.
Jun. 2, 2015, 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%.
Jun. 2, 2015, 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.
Jun. 2, 2015, 6:03 AM
- Conn's (NASDAQ:CONN): Q1 EPS of $0.44 beats by $0.03.
- Revenue of $365.08M (+8.8% Y/Y) misses by $3.45M.
Jun. 1, 2015, 5:30 PM
May 27, 2015, 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
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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