Conn’s Posts Profit

Conn’s Tuesday posted a fourth quarter profit of $7.7 million, compared with a $3.6 million loss the same time the year before.

The company reported an increase in net sales due to higher average selling prices, including increased furniture unit sales.

“We are pleased to report improved profitability in both our credit and retail segments,” Theodore M. Wright, the Company’s Chairman and Chief Executive Officer, said in a statement. “Sales and gross margins are increasing. Combined February and March same store sales grew 16.1% and retail gross margin for the first quarter of fiscal 2013 to date is above fourth quarter of fiscal 2012 levels.

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