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Conn's, Inc. (CONN)

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Previous Close21.08
Open20.85
Bid21.35 x 900
Ask21.68 x 1100
Day's Range20.85 - 21.89
52 Week Range3.86 - 21.89
Volume370,555
Avg. Volume360,808
Market Cap635.838M
Beta (5Y Monthly)2.65
PE Ratio (TTM)N/A
EPS (TTM)N/A
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  • Conn’s, Inc. Reports Fourth Quarter Fiscal Year 2021 Financial Results
    GlobeNewswire

    Conn’s, Inc. Reports Fourth Quarter Fiscal Year 2021 Financial Results

    THE WOODLANDS, Texas, March 31, 2021 (GLOBE NEWSWIRE) -- Conn’s, Inc. (NASDAQ: CONN) (“Conn’s” or the “Company”), a specialty retailer of furniture and mattresses, home appliances, consumer electronics and home office products, and provider of consumer credit, today announced its financial results for the quarter ended January 31, 2021. “Throughout fiscal year 2021, we took decisive actions focused on supporting our employees, customers, and communities, while de-risking our business, enhancing our balance sheet, and investing in digital and e-commerce. These actions combined with the dedication of our associates directly contributed to our ability to successfully navigate the COVID-19 pandemic. Quarterly same store sales improved sequentially throughout fiscal year 2021, despite continued conservative underwriting strategies, which we believe demonstrates strong underlying demand for our products, and we anticipate positive same store sales momentum will continue into fiscal year 2022,” stated Norm Miller, Conn’s Chairman and Chief Executive Officer. “We have emerged from the pandemic stronger, more efficient and well positioned to compete in a rapidly changing market, and fiscal year 2022 is off to a strong start. Same store sales are up over 3.0% quarter-to-date, despite the impacts of the historic winter storm across many of our markets, one fewer selling day as a result of leap year and continued supply chain challenges. These quarter-to-date results still reflect our more conservative underwriting strategy.” “Overall, we believe Conn’s is at an inflection point in our growth strategy as we continue to leverage our best-in-class in-house and third-party credit offerings, increase digital and e-commerce investments, expand our brick-and-mortar footprint, and enhance our merchandising and marketing strategies. We believe these strategic initiatives, combined with our unique value proposition, will support long-term and sustainable growth,” concluded Mr. Miller. Fourth Quarter Financial Highlights: Earnings for the fourth quarter increased approximately 400% to $0.85 per diluted share, compared to $0.17 per diluted share for the same period last fiscal year;Increased fourth quarter cash and third-party credit sales nearly 35% compared to the prior fiscal year period reflecting strong demand for home-related products; andSame store sales declined 10.1% for the fourth quarter, primarily due to a nearly 29% decline in sales financed by Conn’s in-house credit because of tighter underwriting associated with the COVID-19 crisis. Fiscal Year 2021 Financial Highlights: Improved capital position as net cash provided by operating activities was $462.1 million compared to $80.1 million for the year ended January 31, 2020;Reduced overall debt balance by $416.6 million as compared to fiscal year 2020 resulting in debt as a percent of the portfolio balance of approximately 49% at January 31, 2021. Net debt as a percent of the portfolio balance at January 31, 2021 was approximately 45%, representing the lowest level in seven fiscal years;Carrying value of customer accounts receivable 60+ days past due at January 31, 2021 24% lower than the prior fiscal year;Carrying value of re-aged customer accounts receivable at January 31, 2021 33% lower than the prior fiscal year period; andMore than doubled e-commerce sales during fiscal year 2021 as compared to the prior fiscal year. Fourth Quarter Results Net income for the fourth quarter of fiscal year 2021 was $25.1 million, or $0.85 per diluted share, compared to net income for the fourth quarter of fiscal year 2020 of $5.1 million, or $0.17 per diluted share. The increase in net income was primarily due to a decrease in provision for bad debts and tax benefit related to the CARES ACT, partially offset by a decline in revenue. The CARES ACT tax benefit was $12.4 million, or $0.42 per diluted share, for the fourth quarter of fiscal year 2021. On a non-GAAP basis, adjusted net income for the fourth quarter of fiscal year 2021 was $27.1 million, or $0.91 per diluted share, which excludes charges and credits for severance costs related to a change in the executive management team and a gain on extinguishment of debt. This compares to adjusted net income for the fourth quarter of fiscal year 2020 of $5.9 million, or $0.20 per diluted share, which excludes a loss on extinguishment of debt. Retail Segment Fourth Quarter Results Retail revenues were $294.7 million for the three months ended January 31, 2021 compared to $315.3 million for the three months ended January 31, 2020, a decrease of $20.6 million or 6.5%. The decrease in retail revenue was primarily driven by a decrease in same store sales of 10.1% and a decrease in RSA commissions and retrospective income, partially offset by new store growth. The decrease in same store sales reflects proactive tightening of underwriting standards which were the result of the COVID-19 pandemic. For the three months ended January 31, 2021 and January 31, 2020, retail segment operating income was $12.7 million and $35.7 million, respectively. On a non-GAAP basis, adjusted retail segment operating income for the three months ended January 31, 2021 was $15.4 million, after excluding charges and credits for severance costs related to a change in the executive management team. On a non-GAAP basis, adjusted retail segment operating income for the three months ended January 31, 2020 was $35.7 million. The following table presents net sales and changes in net sales by category: Three Months Ended January 31, Same Store(dollars in thousands)2021 % of Total 2020 % of Total Change % Change % ChangeFurniture and mattress$90,100 30.6% $94,042 29.8% $(3,942) (4.2)% (8.9)%Home appliance102,125 34.7 93,452 29.7 8,673 9.3 6.2 Consumer electronics54,255 18.4 69,995 22.2 (15,740) (22.5) (23.2) Home office16,349 5.6 20,804 6.6 (4,455) (21.4) (22.3) Other7,705 2.6 4,875 1.5 2,830 58.1 40.7 Product sales270,534 91.9 283,168 89.8 (12,634) (4.5) (7.5) Repair service agreement commissions (1)21,108 7.2 28,848 9.2 (7,740) (26.8) (29.8) Service revenues2,831 0.9 3,056 1.0 (225) (7.4) Total net sales$294,473 100.0% $315,072 100.0% $(20,599) (6.5)% (10.1)% (1) The total change in sales of repair service agreement commissions includes retrospective commissions, which are not reflected in the change in same store sales. Credit Segment Fourth Quarter Results Credit revenues were $73.1 million for the three months ended January 31, 2021 compared to $97.7 million for the three months ended January 31, 2020, a decrease of $24.6 million or 25.2%. The decrease in credit revenue was primarily due to a decrease of 20.6% in the average balance of the customer receivable portfolio, a decrease in insurance commissions due to a decline in the balance of sale of our in-house credit financing and a decrease in insurance retrospective income. The yield rate for the three months ended January 31, 2021 was 21.3% compared to 21.5% for the three months ended January 31, 2020. The total customer accounts receivable portfolio balance was $1.2 billion at January 31, 2021 compared to $1.6 billion at January 31, 2020, a decrease of 23.0%. Provision for bad debts decreased to $25.1 million for the three months ended January 31, 2021 compared to $69.3 million for the three months ended January 31, 2020, a decrease of $44.2 million. The decrease was driven by a reduction in the allowance for bad debts during the three months ended January 31, 2021 as compared to an increase in the allowance during the three months ended January 31, 2020. The decrease in the allowance for bad debts for the three months ended January 31, 2021 was primarily driven by a decrease in customer accounts receivable portfolio as compared to an increase in the customer accounts receivable portfolio balance for the three months ended January 31, 2020. In addition, improvements in forecasted unemployment rates and lower charge-offs contributed to the decline in the allowance for bad debts. Credit segment operating income was $14.6 million for the three months ended January 31, 2021, compared to an operating loss of $12.3 million for the three months ended January 31, 2020. The increase in credit segment operating income for the three months ended January 31, 2021 as compared to the three months ended January 31, 2020 was primarily driven by a decrease in provision for bad debts offset by a decline in credit revenue, as described above. Additional information on the credit portfolio and its performance may be found in the Customer Accounts Receivable Portfolio Statistics table included within this press release and in the Company’s Form 10-K for the year ended January 31, 2021, to be filed with the Securities and Exchange Commission on March 31, 2021. Showroom and Facilities Update The Company has opened three new Conn’s HomePlus® showrooms and its first distribution center in Florida during the fourth quarter of fiscal year 2021 and has opened six new Conn’s HomePlus® showrooms during the first quarter of fiscal year 2022, bringing the total showroom count to 152 in 15 states. During fiscal year 2022, the Company plans to open 9 to 11 new showrooms, including the six already opened, in existing states to leverage current infrastructure. Liquidity and Capital Resources As of January 31, 2021, the Company had $336.0 million of immediately available borrowing capacity under its $650.0 million revolving credit facility. The Company also had $9.7 million of unrestricted cash available for use. On February 24, 2021, the Company completed the sale of $62.9 million of 4.20% Asset Backed Fixed Rate Notes, Class C, Series 2020-A which was previously issued and retained by the company. The asset-backed notes are secured by the transferred customer accounts receivables and restricted cash held by a consolidated VIE, which resulted in net proceeds to us of $62.5 million, net of debt issuance costs. Net proceeds from the sale were used to repay amounts outstanding under the Company’s Revolving Credit Facility. On March 29, 2021, the Company entered into the Fifth Amended and Restated Loan and Security Agreement (the “Fifth Amended and Restated Loan Agreement”). The Fifth Amended and Restated Loan Agreement, among other things, extended the maturity date of our existing revolving credit facility to March 2025 (originally scheduled to mature in May 2022). Additional detail with respect to the Fifth Amended and Restated Loan Agreement may be found in our Annual Report on Form 10-K for the fiscal year ended January 31, 2021. On March 15, 2021, the Company issued a notice of redemption to holders of our 7.250% Senior Notes due 2022 (the “Senior Notes”) for the redemption of all $141,172,000 outstanding aggregate principal amount of the Senior Notes. Additional detail with respect to the notice of redemption of the Senior Notes, including the redemption date and redemption price for the Senior Notes may be found in our Annual Report on Form 10-K for the fiscal year ended January 31, 2021. The foregoing does not constitute a notice of redemption with respect to the Senior Notes. Conference Call Information The Company will host a conference call on March 31, 2021, at 10 a.m. CT / 11 a.m. ET, to discuss its three months ended January 31, 2021 financial results. Participants can join the call by dialing 877-451-6152 or 201-389-0879. The conference call will also be broadcast simultaneously via webcast on a listen-only basis. A link to the earnings release, webcast and fourth quarter fiscal year 2021 conference call presentation will be available at ir.conns.com. Replay of the telephonic call can be accessed through April 7, 2021 by dialing 844-512-2921 or 412-317-6671 and Conference ID: 13714683. About Conn’s, Inc. Conn’s is a specialty retailer currently operating 152 retail locations in Alabama, Arizona, Colorado, Florida, Georgia, Louisiana, Mississippi, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, Texas and Virginia. The Company’s primary product categories include: Furniture and mattress, including furniture and related accessories for the living room, dining room and bedroom, as well as both traditional and specialty mattresses;Home appliance, including refrigerators, freezers, washers, dryers, dishwashers and ranges; Consumer electronics, including LED, OLED, QLED, 4K Ultra HD, and 8K televisions, gaming products, next generation video game consoles and home theater and portable audio equipment; andHome office, including computers, printers and accessories. Additionally, Conn’s offers a variety of products on a seasonal basis. Unlike many of its competitors, Conn’s provides flexible in-house credit options for its customers in addition to third-party financing programs and third-party lease-to-own payment plans. This press release contains forward-looking statements within the meaning of the federal securities laws, including but not limited to, the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Such forward-looking statements include information concerning our future financial performance, business strategy, plans, goals and objectives. Statements containing the words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “should,” “predict,” “will,” “potential,” or the negative of such terms or other similar expressions are generally forward-looking in nature and not historical facts. Such forward-looking statements are based on our current expectations. We can give no assurance that such statements will prove to be correct, and actual results may differ materially. A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by our forward-looking statements, including, but not limited to: general economic conditions impacting our customers or potential customers; our ability to execute periodic securitizations of future originated customer loans on favorable terms; our ability to continue existing customer financing programs or to offer new customer financing programs; changes in the delinquency status of our credit portfolio; unfavorable developments in ongoing litigation; increased regulatory oversight; higher than anticipated net charge-offs in the credit portfolio; the success of our planned opening of new stores; technological and market developments and sales trends for our major product offerings; our ability to manage effectively the selection of our major product offerings; our ability to protect against cyber-attacks or data security breaches and to protect the integrity and security of individually identifiable data of our customers and employees; our ability to fund our operations, capital expenditures, debt repayment and expansion from cash flows from operations, borrowings from our Revolving Credit Facility, and proceeds from accessing debt or equity markets; the effects of epidemics or pandemics, including the COVID-19 outbreak; and other risks detailed in Part I, Item 1A, Risk Factors, in our Annual Report on Form 10-K for the fiscal year ended January 31, 2021 and other reports filed with the Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should our underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise, or to provide periodic updates or guidance. All forward-looking statements attributable to us, or to persons acting on our behalf, are expressly qualified in their entirety by these cautionary statements. CONN-G S.M. Berger & Company Andrew Berger (216) 464-6400 CONN’S, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS(unaudited)(dollars in thousands, except per share amounts) Three Months Ended January 31, Year Ended January 31, 2021 2020 2021 2020Revenues: Total net sales$294,473 $315,072 $1,064,311 $1,163,235 Finance charges and other revenues73,318 97,916 321,714 380,451 Total revenues367,791 412,988 1,386,025 1,543,686 Costs and expenses: Cost of goods sold184,300 188,038 668,315 697,784 Selling, general and administrative expense128,324 132,018 478,767 503,024 Provision for bad debts25,139 69,510 202,003 205,217 Charges and credits2,737 — 6,326 3,142 Total costs and expenses340,500 389,566 1,355,411 1,409,167 Operating income27,291 23,422 30,614 134,519 Interest expense10,603 15,163 50,381 59,107 (Gain) loss on extinguishment of debt(440) 1,094 (440) 1,094 Income (loss) before income taxes17,128 7,165 (19,327) 74,318 Provision (benefit) for income taxes(7,998) 2,113 (16,190) 18,314 Net income (loss)$25,126 $5,052 $(3,137) $56,004 Earnings (loss) per share: Basic$0.86 $0.18 $(0.11) $1.85 Diluted$0.85 $0.17 $(0.11) $1.82 Weighted average common shares outstanding: Basic29,199,678 28,720,508 29,060,512 30,275,662 Diluted29,647,593 29,276,167 29,060,512 30,814,775 CONN’S, INC. AND SUBSIDIARIES RETAIL SEGMENT FINANCIAL INFORMATION(unaudited)(dollars in thousands) Three Months Ended January 31, Year Ended January 31, 2021 2020 2021 2020Revenues: Product sales$270,534 $283,168 $973,031 $1,042,424 Repair service agreement commissions21,108 28,848 78,838 106,997 Service revenues2,831 3,056 12,442 13,814 Total net sales294,473 315,072 1,064,311 1,163,235 Other revenues217 208 816 810 Total revenues294,690 315,280 1,065,127 1,164,045 Costs and expenses: Cost of goods sold184,300 188,038 668,315 697,784 Selling, general and administrative expense94,951 91,234 335,954 346,108 Provision for bad debts21 260 443 905 Charges and credits2,737 — 4,092 1,933 Total costs and expenses282,009 279,532 1,008,804 1,046,730 Operating income$12,681 $35,748 $56,323 $117,315 Retail gross margin37.4% 40.3% 37.2% 40.0%Selling, general and administrative expense as percent of revenues32.2% 28.9% 31.5% 29.7%Operating margin4.3% 11.3% 5.3% 10.1%Store count: Beginning of period143 137 137 123 Opened3 — 9 14 End of period146 137 146 137 CONN’S, INC. AND SUBSIDIARIES CREDIT SEGMENT FINANCIAL INFORMATION(unaudited)(dollars in thousands) Three Months Ended January 31, Year Ended January 31, 2021 2020 2021 2020Revenues: Finance charges and other revenues$73,101 $97,708 $320,898 $379,641 Costs and expenses: Selling, general and administrative expense33,373 40,784 142,813 156,916 Provision for bad debts25,118 69,250 201,560 204,312 Charges and credits— — 2,234 1,209 Total costs and expenses58,491 110,034 346,607 362,437 Operating income (loss)14,610 (12,326) (25,709) 17,204 Interest expense10,603 15,163 50,381 59,107 (Gain) loss on extinguishment of debt(440) 1,094 (440) 1,094 Income (loss) before income taxes$4,447 $(28,583) $(75,650) $(42,997) Selling, general and administrative expense as percent of revenues45.7 % 41.7 % 44.5 % 41.3 %Selling, general and administrative expense as percent of average outstanding customer accounts receivable balance (annualized)10.6 % 10.2 % 10.2 % 10.0 %Operating margin20.0 % (12.6)% (8.0)% 4.5 % CONN’S, INC. AND SUBSIDIARIES CUSTOMER ACCOUNTS RECEIVABLE PORTFOLIO STATISTICS(unaudited) January 31, 2021 2020Weighted average credit score of outstanding balances (1)600 591 Average outstanding customer balance$2,463 $2,734 Balances 60+ days past due as a percentage of total customer portfolio carrying value (2)(3)12.4% 12.5%Balances 60+ days past due (in thousands) (2)$146,820 $193,797 Re-aged balance as a percentage of total customer portfolio carrying value (2)(3)25.9% 29.4%Carrying value of account balances re-aged more than six months (in thousands) (3)$92,883 $112,410 Allowance for bad debts and uncollectible interest as a percentage of total customer accounts receivable portfolio balance (4)24.2% 14.6%Percent of total customer accounts receivable portfolio balance represented by no-interest option receivables20.5% 17.7% Three Months Ended January 31, Year Ended January 31, 2021 2020 2021 2020Total applications processed342,924 360,338 1,251,002 1,235,712 Weighted average origination credit score of sales financed (1)617 606 615 608 Percent of total applications approved and utilized21.2% 27.0% 21.5% 27.0%Average income of credit customer at origination$48,500 $46,000 $47,100 $45,800 Percent of retail sales paid for by: In-house financing, including down payments received50.9% 66.7% 52.1% 67.6%Third-party financing19.9% 18.9% 20.4% 17.8%Third-party lease-to-own option9.8% 6.6% 8.5% 7.0% 80.6% 92.2% 81.0% 92.4% (1) Credit scores exclude non-scored accounts. (2) Accounts that become delinquent after being re-aged are included in both the delinquency and re-aged amounts. (3) Carrying value reflects the total customer accounts receivable portfolio balance, net of deferred fees and origination costs, the allowance for no-interest option credit programs and the allowance for uncollectible interest. (4) For the period ended January 31, 2021, the allowance for bad debts and uncollectible interest is based on the current expected credit loss methodology required under ASC 326. For the period ended January 31, 2020, the allowance for bad debts and uncollectible interest is based on the incurred loss methodology. CONN’S, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS(unaudited)(in thousands) January 31, 2021 2020Assets Current Assets: Cash and cash equivalents$9,703 $5,485 Restricted cash50,557 75,370 Customer accounts receivable, net of allowances478,734 673,742 Other accounts receivable61,716 68,753 Inventories196,463 219,756 Income taxes receivable38,059 4,315 Prepaid expenses and other current assets8,831 11,445 Total current assets844,063 1,058,866 Long-term portion of customer accounts receivable, net of allowances430,749 663,761 Operating lease right-of-use assets265,798 242,457 Property and equipment, net190,962 173,031 Deferred income taxes9,448 18,599 Other assets14,064 12,055 Total assets$1,755,084 $2,168,769 Liabilities and Stockholders’ Equity Current liabilities: Current finance lease obligations$934 $605 Accounts payable69,367 48,554 Accrued expenses82,990 63,090 Operating lease liability - current44,011 35,390 Other current liabilities14,454 14,631 Total current liabilities211,756 162,270 Operating lease liability - non current354,598 329,081 Long-term debt and finance lease obligations608,635 1,025,535 Other long-term liabilities22,940 24,703 Total liabilities1,197,929 1,541,589 Stockholders’ equity557,155 627,180 Total liabilities and stockholders’ equity$1,755,084 $2,168,769 CONN’S, INC. AND SUBSIDIARIES NON-GAAP RECONCILIATIONS(unaudited)(dollars in thousands, except per share amounts) Basis for presentation of non-GAAP disclosures: To supplement the consolidated financial statements, which are prepared and presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”), the Company also provides the following non-GAAP financial measures: adjusted retail segment operating income, adjusted net income, adjusted net income per diluted share, and Net Debt. These non-GAAP financial measures are not meant to be considered as a substitute for, or superior to, comparable GAAP measures and should be considered in addition to results presented in accordance with GAAP. They are intended to provide additional insight into our operations and the factors and trends affecting the business. Management believes these non-GAAP financial measures are useful to financial statement readers because (1) they allow for greater transparency with respect to key metrics we use in our financial and operational decision making and (2) they are used by some of our institutional investors and the analyst community to help them analyze our operating results. RETAIL SEGMENT ADJUSTED OPERATING INCOME Three Months Ended January 31, Year Ended January 31, 2021 2020 2021 2020Retail segment operating income, as reported$12,681 $35,748 $56,323 $117,315 Adjustments: Store and facility closure and relocation costs (1)— — — 1,933 Professional fees (2)— — 1,355 — Employee severance (3)2,737 — 2,737 — Retail segment operating income, as adjusted$15,418 $35,748 $60,415 $119,248 (1) Represents impairments from the exiting of certain leases upon the relocation of three distribution centers into one facility, the gain from the sale of a cross-dock and from increased sublease income related to the consolidation of our corporate headquarters during the year ended January 31, 2020. (2) Represents costs related to professional fees associated with non-recurring expenses. (3) Represents severance costs related to a change in the executive management team. ADJUSTED NET INCOME AND ADJUSTED NET INCOME (LOSS) PER DILUTED SHARE Three Months Ended January 31, Year Ended January 31, 2021 2020 2021 2020Net income (loss), as reported$25,126 $5,052 $(3,137) $56,004 Adjustments: Store and facility closure and relocation costs (1)— — — 1,933 Professional fees (2)— — 3,589 — Employee severance (3)2,737 — 2,737 — Write-off of software costs (4)— — — 1,209 (Gain) loss on extinguishment of debt (5)(440) 1,094 (440) 1,094 Tax impact of adjustments (6)(306) (246) (1,111) (951)Net income, as adjusted$27,117 $5,900 $1,638 $59,289 Weighted average common shares outstanding - Diluted29,647,593 29,276,167 29,287,950 30,814,775 Diluted earnings (loss) per share: As reported$0.85 $0.17 $(0.11) $1.82 As adjusted$0.91 $0.20 $0.06 $1.92 (1) Represents impairments from the exiting of certain leases upon the relocation of three distribution centers into one facility, the gain from the sale of a cross-dock and from increased sublease income related to the consolidation of our corporate headquarters during the year ended January 31, 2020. (2) Represents costs related to professional fees associated with non-recurring expenses. (3) Represents severance costs related to a change in the executive management team. (4) Represents impairments of software costs for a loan management system that was abandoned during the year ended January 31, 2020 related to the implementation of a new loan management system. (5) Represents benefits and costs incurred for the early retirement of our debt. (6) Represents the tax effect of the adjusted items based on the applicable statutory tax rate. NET DEBT January 31, 2021 2020 Debt, as reported Current finance lease obligations$934 $605 Long-term debt and finance lease obligations608,635 1,025,535 Total debt609,569 1,026,140 Cash, as reported Cash and cash equivalents9,703 5,485 Restricted cash50,557 75,370 Total cash60,260 80,855 Net debt$549,309 $945,285 Ending portfolio balance, as reported$1,233,717 $1,602,037 Net debt as a percentage of the portfolio balance44.5% 59.0%

  • Conn's, Inc. Schedules Conference Call to Discuss Fourth Quarter Fiscal Year 2021 Results
    GlobeNewswire

    Conn's, Inc. Schedules Conference Call to Discuss Fourth Quarter Fiscal Year 2021 Results

    THE WOODLANDS, Texas, March 24, 2021 (GLOBE NEWSWIRE) -- Conn's, Inc. (NASDAQ: CONN), a specialty retailer of furniture and mattresses, home appliances, consumer electronics, home office products and provider of consumer credit, today announced it will host a conference call on March 31, 2021 to discuss its fourth quarter fiscal year 2021 financial results. The conference call will begin at 10:00 A.M. CT (11:00 A.M. ET). A press release regarding the operating results will be released the same day before the market opens. Participants can join the call by dialing 877-451-6152 or 201-389-0879. The conference call will also be broadcast simultaneously via webcast on a listen-only basis. A link to the earnings release and webcast will be available at ir.conns.com. About Conn's, Inc.Conn's HomePlus is a specialty retailer currently operating 150+ retail locations in Alabama, Arizona, Colorado, Florida, Georgia, Louisiana, Mississippi, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, Texas and Virginia. The Company's primary product categories include: Furniture and mattress, including furniture and related accessories for the living room, dining room and bedroom, as well as traditional and specialty mattresses;Home appliance, including refrigerators, freezers, washers, dryers, dishwashers and ranges;Consumer electronics, including LED, OLED, QLED, Ultra HD, and internet-ready televisions, gaming consoles, home theater and portable audio equipment;Home office, including computers, printers and accessories; andAt-home fitness equipment, including treadmills, ellipticals and studio cycles. Additionally, Conn's HomePlus offers a variety of products on a seasonal basis. Unlike many of its competitors, Conn's HomePlus provides flexible in-house credit options for its customers in addition to third-party financing programs and third-party lease-to-own payment plans. CONN-GInvestor Contact:S.M. Berger & CompanyAndrew Berger, (216) 464-6400

  • Conn's HomePlus Announces Scholarship for Texas Southern University and Florida A&M University Students
    PR Newswire

    Conn's HomePlus Announces Scholarship for Texas Southern University and Florida A&M University Students

    Conn's HomePlus (NASDAQ: CONN) – specialty retailer of furniture, mattresses, home appliances, and consumer electronics – is proud to announce the Conn's Cohort Scholarship/Internship Program for 2021. The new scholarship will support students enrolled at Texas Southern University and Florida A&M University with majors in the retail sales, technology and supply chain space, and is open to current undergraduate freshmen and high school seniors.