Conn's Reports Loss
Conn's announced last week that it posted a $15.2 million net loss in the quarter ended Oct. 31. The results came on same-store sales that dropped 9.3 percent.
"Our third quarter results were disappointing, but we are focused on improving credit portfolio performance and expense control and are taking the actions necessary to address the debt covenant compliance concerns," said the company's President and CEO, Tim Frank, said as part of the announcement.
Conn's said in its earnings announcement that it believes it gained market share in such categories as consumer electronics and home appliances, while posting a 26.5 percent increase in sales of TVs.