Conn's Sales Drop
Conn's reported Tuesday that its retail sales for the most recent quarter dropped 15.2 percent to $152.2 million.
"While the sales results for the quarter did not meet our expectations, we did deliver gross margins above the range we targeted, and I am encouraged by recent sales trends," Theodore Wright, Conn's Chairman, said in a statement.
"Early indications are that we can retain a meaningful portion of the customers that shopped at our now closed locations. Also, the two stores with significantly expanded floor space allocated to furniture and mattresses have delivered good results so far."