Conn's Posts Loss; Will Close Some Stores
Conn's Thursday announced it posted a $3.4 million loss in the fourth quarter, compared with a $1.7 million loss the same time the year before.
Revenues rose 2.9 percent, but the company also took a $1.7 million inventory write-down. In addition, Conn's announced that it will close seven stores in Texas, including four in Dallas, two in Austin and one in San Antonio, following the completion of a strategic review of demographic information and market share opportunities.
CEO Timothy Frank resigned in February, and was replaced on an interim basis by Theodore M. Wright.