Daily News
From Home Furnishing Business
Conn’s Reports Increase in April Sales
May 5,
2016 by in Financial Reports, Industry 
Conn’s, Inc. (NASDAQ: CONN), a specialty retailer of furniture, mattresses, home appliances, consumer electronics and provider of consumer credit, has reported $105.4 million in total retail net sales for April.
It is an increase of 6.2 percent compared to the same prior year period.
“During April, same store sales were flat, excluding the impact of our April 2015 decision to exit video game products, digital cameras and certain tablets,” said Norm Miller, CEO and president of Conn’s. “Sales compared to the prior year were affected by two additional factors. First, we benefited from an extra operating day in April this year due to the timing of Easter, which increased sales an estimated 360 basis points. Second, further underwriting changes implemented during the last week of March this year, taken together with changes made during the fiscal 2016 fourth quarter, reduced April sales by approximately 650 to 700 basis points, compared to our original 400 basis point exception.”
Miller added that 60-day delinquency was 8.6 percent as of April 30, a sequential decrease from 8.9 percent as of March 31, and compared to 8.4 percent as of April 30, 2015.
“Continued deceleration in the year-over-year portfolio growth rate is negatively impacting the delinquency rate comparison to the prior year,” Miller said.
Conn’s operates more than 100 retail locations in Arizona, Colorado, Georgia, Louisiana, Mississippi, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee and Texas.