By early afternoon, shares had climbed 11.7% to $38.56.
In the three months to January, the consumer electronics and homewares retailer generated revenue of $361.14 million, a 44.3% year-over-year increase, but slightly short of $362.86 million analysts surveyed by Thomson Reuters had forecast. Same-store sales jumped 33.4%.
Adjusted net income of 74 cents a share grew 37% from the year-ago quarter. Analysts had expected slightly higher earnings of 78 cents a share.
Over fiscal 2015 ending January, management reaffirmed unadjusted earnings guidance of $3.40 to $3.70 a share. Analysts had forecast $3.49 a share.
"Fiscal 2015 same store sales are expected to increase 5% to 10%, down from 27% in fiscal 2014, as comparisons will become progressively more difficult. Same store sales in the current quarter to date increased about 15%," said CEO Theodore Wright in a statement.
TheStreet Ratings team rates CONN'S INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate CONN'S INC (CONN) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow."
- You can view the full analysis from the report here: CONN Ratings Report
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