Conn's Profit Plunges
The Texas-based CE and appliance chain Conn's Thursday reported that its profit fell nearly 50 percent in the most recent quarter, including a 25 percent drop in revenues. Same-store sales also dropped 31.7 percent.
The company posted a net income of $6.5 million, down from $12.6 million the same quarter the previous year. The company did outperform analyst expectations, Reuters said.