- Consolidated revenues increased 33.6% to $335.4 million;
- Same store sales grew 15.6%, on top of a 16.5% increase in same store sales reported a year ago;
- Furniture and mattress sales increased 64.7% and accounted for approximately one-third of total product revenue in first-quarter fiscal 2015;
- Entered Denver market with opening of two Conn’s HomePlus ® stores;
- Retail gross margin improved 110 basis points to 41.4%;
- Adjusted retail segment operating income rose 44.8% to $39.5 million;
- Credit segment operating income declined $0.4 million to $11.3 million;
- The percentage of the customer portfolio balance 60+ days delinquent improved sequentially to 8.0% as of April 30;
- Credit segment provision for bad debts on an annualized basis was 8.2% of the average outstanding portfolio balance;
- Adjusted diluted earnings grew 31.1%, to $0.80 per share, from $0.61 per share; and
- Full-year fiscal 2015 guidance of $3.40 to $3.70 adjusted earnings per diluted share was reaffirmed.
Conn’s, Inc. Reports Record Net Income
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