Daily News
From Home Furnishing Business
Conn's Revises Guidance
February 20,
2014 by in Financial Reports, Furniture Retailing, Industry 
Electronics and home furnishings retailer Conn's Inc. (NASDAQ: CONN) has slashed its profit forecast for fiscal 2015, citing bad debts and weaker sales growth in televisions and other consumer electronics.
The retailer said delinquency and charge-offs climbed in December and January, leading to an increased provision for bad debt in the fourth quarter.
For the year ending Jan. 31, 2015, Conn's forecasts earnings of $3.40-$3.70 per share, down from a range of $3.80-$4 reported in December.
For the fourth quarter ended Jan. 31, Conn's said it expects adjusted earnings of 75 to 80 cents a share. Net sales for the quarter are estimated at $310.6 million. Same store sales for the quarter ended Jan. 31, rose an estimated 33.4 percent over the comparable prior-year period.
The company will update and discuss the fourth-quarter and year-end results March 27, when it releases its financial results.