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Conn's, Inc. Reports Net Sales Results for the Quarter Ended October 31, 2009
Thursday, November 05, 2009 7:52 AM


(Source: Business Wire)trackingConn's, Inc. (NASDAQ/NM: CONN), a specialty retailer of consumer electronics, home appliances, furniture, mattresses, computers and lawn and garden products, today announced its net sales results for the quarter ended October 31, 2009.

Net sales for the quarter ended October 31, 2009, of $161.4 million, decreased $12.5 million, or 7.2%, as compared with the quarter ended October 31, 2008. Net sales represent total product sales, service maintenance agreement commissions and service revenues. Same store sales (sales recorded in stores operated for the entirety of both periods) decreased 9.3% for the quarter ended October 31, 2009. The sales comparisons were impacted by increasingly challenging economic conditions in the Company's markets during the quarter and the impact of the hurricanes experienced in September 2008. Despite the decline, the Company believes it increased its consumer electronics and home appliance market share, as retail sales for appliance and electronics stores declined 11.3% nationally during the quarter ended September 30, 2009, as reported in the U.S. Census Bureau News -- Advance Monthly Sales for Retail Trade and Food Services, while the Company's sales in these categories declined only 6.5%. The expected market share gain in consumer electronics is further evidenced by the increase in total television unit sales of 26.5%, as compared to the same period in the prior year. Additionally, the Company grew its furniture and mattresses sales by 10.0%, while sales in furniture and home furnishings were down 10.4% nationally for the quarter ended September 30, 2009, according to the U.S. Census report. Total revenues for the quarter, including revenues from finance charges and other, will be reported in the Company's earnings release and conference call scheduled for November 25, 2009.



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