Conn’s Posts $15.7 million Profit

Conn’s announced that it has posted a profit of $15.7 million in the quarter ended in April, compared to a profit $28.5 million the same time last year.

“In the first quarter of fiscal 2016, the retail segment expanded with new store growth offset by declines in same store sales,” CEO Theodore M. Wright said in a statement.

“Although greater than 60-day delinquency for the quarter is above prior year, delinquency rates have continued to improve sequentially as we have progressively tightened underwriting standards over the course of fiscal 2015 and our ability to resolve less than 60-day delinquency has remained stable."