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Last $36.99 USD
Change Today -0.32 / -0.86%
Volume 871.1K
CONN On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 05/29/15 All times are local (Market data is delayed by at least 15 minutes).

conn's inc (CONN) Key Developments

Conn’S, Inc. Announces Sales Results for the Month and Quarter Ended April 30, 2015

Conn’s Inc. announced sales results for the month and quarter ended April 30, 2015. For the month, the company reported $96.9 million in total retail net sales for the month ended April 30, 2015, a 12.0% increase compared to the same prior year period. Same store sales for the month increased 0.3% against an increase of 12.9% in April last year. For the three months ended April 30, 2015, total retail net sales were $296.0 million, a 6.6% increase compared to the prior year quarter. Same store sales in April and for the quarter were negatively impacted by tightened underwriting and supply chain disruption attributable to the prolonged port labor dispute. Same store sales decreased 4.3% for the first quarter of fiscal 2016. Same store sales were positive during the latter part of April as inventory availability improved with the resolution of the port labor dispute.

Conn's, Inc. Commences Registered Exchange Offer for 7.250% Senior Notes Due 2022

Conn’s Inc. announced an offer to exchange up to $250 million aggregate principal amount of its unregistered 7.250% senior notes due 2022 that it issued in July 2014 in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, for an equivalent amount of 7.250% senior notes due 2022 that have been registered under the Securities Act. The sole purpose of the exchange offer is to fulfill Conn’s Inc.’s obligations under the registration rights agreement entered into with the holders of the Old Notes in connection with the company's July 2014 offering. Conn’s Inc. will not receive any proceeds from the issuance of the Exchange Notes. The Exchange Offer will expire at 5:00 p.m. New York City time, on May 29, 2015, unless extended. Tenders of the old notes must be made before the exchange offer expires and may be withdrawn at any time before the exchange offer expires. Old notes that are not exchanged will continue to be subject to the existing restrictions on transfer.

Conns Inc. Announces Sales Results for the Month of March 2015

Conns Inc. announced sales results for the month of March 2015. The company reported that for March 2015, total retail net sales improved from the prior year, while same store sales fell year over year, attributing the decline to port labor disruption. Total retail net sales for the month was $103.7 million, up 3.4% year over year. However, same store sales decreased 6.8% against an increase of 18.1% in March last year. The company said it was negatively impacted by the prolonged port labor disruption. Reduced inventory availability also contributed to a decrease in same store sales of 10.8% for the furniture category.

Conns Not To Sell Itself

Conns Inc. (NasdaqGS:CONN) is not looking to sell the company. In an earnings call on March 31, Conn’s said that it’s considering the partial sale of its loan portfolios. Mike Poppe, Chief Operating Officer said, "We’re really just looking for someone to give us a different way to finance so we'd have less debt on the balance sheet." He declined to comment on whether any of the buying interest was coming from Houston.

Conns Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended January 31, 2015; Provides Earnings Guidance for the First Quarter and Full Fiscal Year of 2016; Plans to Open 15 to 18 Stores in Fiscal 2016; Reports the Closure of Two Stores in Fiscal 2016

Conns Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended January 31, 2015. For the quarter, on a GAAP basis the company net income of $15.5 million, or $0.42 per diluted share, down from $27.7 million or $0.75 per diluted share a year ago. Adjusted EPS of $0.46 was down from $0.74 in the same period a year ago. Total Revenue was $426.7 million were up from $361.1 million in fourth quarter of 2014. Total retail revenues were $351.7 million, an increase of $49.6 million, or 16.4%. The retail revenue growth reflects the impact of the addition of 11 stores over the past 12 months and an increase in same store sales of 1.3%. Revenues increased 18.2% due to new store openings. Operating income was $32,219,000 against $47,954,000 a year ago. Income before income taxes was $22,775,000 against $43,303,000 a year ago. Operating income, as adjusted was $45,651,000 against $49,094,000 a year ago. For the full year, total revenues were $1,485,218,000 against $1,193,769,000 a year ago. Operating income was $119,867,000 against $161,852,000 a year ago. Income before income taxes was $90,502,000 against $146,519,000 a year ago. Net income was $58,513,000 against $93,449,000 a year ago. Diluted earnings per share were $1.59 against $2.54 a year ago. Operating income, as adjusted was $159,020,000 against $136,144,000 a year ago. For fiscal year 2016, the company expects the change in same stores sales to range from flat to up low single digits, retail gross margin between 40% and 41%. For the first quarter of fiscal 2016 the company expects a percent of bad debt charge-offs to average outstanding balance between 12.5% and 13.5% and interest income and fee yield between 17.0% and 17.5%. The company plans to open 15 to 18 stores in fiscal 2016. The company also reported the closure of two stores in fiscal 2016.

 

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CONN

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Valuation CONN Industry Range
Price/Earnings 23.5x
Price/Sales 0.9x
Price/Book 2.1x
Price/Cash Flow 23.2x
TEV/Sales 0.4x
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