San Antonio Business Journal - Conn’s sales benefit from strong year-end consumer spending
Thursday, February 5, 2009, 4:13pm CST
Conn’s Inc. released guidance Thursday showing that sales of consumer electronics, furniture and mattresses posted double-digit increases for the quarter ended Jan. 31, 2009.
The Beaumont, Texas-based specialty retailer will report net sales of $245.4 million for the latest quarter. Sales are up $44.8 million, or 22.3 percent, for the quarter, compared to sales reported for the quarter ended Jan. 31, 2008. Net sales represent total product sales, service maintenance agreement commissions and service revenue. The company will report full financial results for the quarter on March 26, 2009.
Conn’s (NASDAQ: CONN) sells home appliances, consumer electronics, computers, lawn and garden products, furniture and mattresses. The company has 10 stores in San Antonio. The company’s net sales were boosted by purchases of flat-panel televisions and home-theater equipment, laptop computers, DVD players and video game equipment.
Net sales increased $74 million to $805 million for the year ended Jan. 31, 2009. This is up 10.1 percent from the year ended Jan. 31, 2008.
Conn’s has a total of 76 retail locations in Texas, Louisiana and Oklahoma.
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