Edition:
India

Conn's Inc (CONN.OQ)

CONN.OQ on NASDAQ Stock Exchange Global Select Market

11.36USD
10:22pm IST
Change (% chg)

$-0.31 (-2.70%)
Prev Close
$11.68
Open
$11.90
Day's High
$11.90
Day's Low
$11.33
Volume
30,175
Avg. Vol
279,719
52-wk High
$27.57
52-wk Low
$2.83

Latest Key Developments (Source: Significant Developments)

Conn's Reports Q1 Loss Per Share Of $1.95
Tuesday, 9 Jun 2020 

June 9 (Reuters) - Conn's Inc ::CONN’S, INC. REPORTS FIRST QUARTER FISCAL YEAR 2021 FINANCIAL RESULTS.Q1 ADJUSTED NON-GAAP LOSS PER SHARE $1.89 EXCLUDING ITEMS.Q1 LOSS PER SHARE $1.95.Q1 EARNINGS PER SHARE ESTIMATE $-0.32 -- REFINITIV IBES DATA.Q1 RESULTS REFLECT AN INCREASE IN ALLOWANCE FOR BAD DEBTS OF $65.5 MILLION.QTRLY E-COMMERCE SALES INCREASED OVER 700% TO $5.4 MILLION.QTRLY TOTAL REVENUES $317.2 MILLION VERSUS $353.5 MILLION.Q1 REVENUE VIEW $309.9 MILLION -- REFINITIV IBES DATA.  Full Article

Conn's identified material weakness in controls over financial reporting
Tuesday, 14 Apr 2020 

April 14 (Reuters) - Conn's Inc ::CONN'S -- CONTROL DEFICIENCY RESULTING IN FAILURE TO DETECT ACCOUNTING ERRORS CONSTITUTED A MATERIAL WEAKNESS IN INTERNAL CONTROL OVER FINANCIAL REPORTING AS OF JANUARY 31 -- SEC FILING.  Full Article

Conn’S, Inc. Reports 4Q Fiscal Year 2020 Financial Results
Tuesday, 14 Apr 2020 

April 14 (Reuters) - Conn's Inc ::CONN’S, INC. REPORTS FOURTH QUARTER FISCAL YEAR 2020 FINANCIAL RESULTS AND PROVIDES BUSINESS UPDATE RELATED TO COVID-19.Q4 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.20 EXCLUDING ITEMS.Q4 EARNINGS PER SHARE $0.17.Q4 EARNINGS PER SHARE ESTIMATE $0.35 -- REFINITIV IBES DATA.RECENTLY BORROWED AN ADDITIONAL $275.0 MILLION OF CASH ON OUR REVOLVING CREDIT FACILITY.TEMPORARILY REDUCED SALARIES FOR CERTAIN EXECUTIVES, INCLUDING NAMED EXECUTIVE OFFICERS, BY 20% AND OUR CEO BY 25%.TEMPORARILY INCREASED HOURLY WAGES BY $2 PER HOUR TO SUPPORT FRONT-LINE EMPLOYEES.CONN'S - DELAYED OR ELIMINATED NON-ESSENTIAL CAPEX INCLUDING REDUCING NUMBER OF PLANNED SHOWROOM OPENINGS IN FISCAL YEAR 2021 FROM 16 TO 18, TO 6 TO 8.QTRLY RETAIL REVENUES WERE $315.3 MILLION COMPARED TO $338.9 MILLION.CONN'S - BECAME AWARE HISTORICAL CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR 3 AND 9 MONTH PERIODS ENDED OCT 31, 2019 CONTAINED ERRORS.CONN'S - WILL RESTATE RESTATED FINANCIAL DATA IN ITS CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR NON-RELIANCE PERIODS IN 2020 FORM 10-K.QTRLY TOTAL REVENUES ABOUT $413 MILLION VERSUS ABOUT $433 MILLION.Q4 REVENUE VIEW $412.1 MILLION -- REFINITIV IBES DATA.  Full Article

Conn's CEO To Temporarily Reduce Base Salary By 25% Due To COVID-19
Wednesday, 8 Apr 2020 

April 7 (Reuters) - Conn's Inc ::EFFECTIVE APRIL 19, ANNUAL CASH RETAINER FOR EACH NON-EMPLOYEE DIRECTOR ON BOARD WILL BE REDUCED BY 25% FOR 2021 DUE TO COVID-19 IMPACT.REDUCTION WILL BE EFFECTIVE UNTIL SUCH TIME AS BOARD DETERMINES IN ITS DISCRETION THAT EFFECTS OF COVID-19 OUTBREAK HAVE SUBSIDED.BASE SALARY FOR CEO WILL BE TEMPORARILY REDUCED BY 25% DUE TO COVID-19 IMPACT.BASE SALARY FOR CERTAIN OTHER OFFICERS WILL BE TEMPORARILY REDUCED BY 20%.  Full Article

Conn's Inc. Provides Update On Liquidity
Friday, 20 Mar 2020 

March 20 (Reuters) - Conn's Inc ::CONN’S, INC. PROVIDES UPDATE ON LIQUIDITY.CONN'S INC - ON MARCH 18, CO BORROWED AN ADDITIONAL $275 MILLION UNDER ITS $650 MILLION REVOLVING CREDIT FACILITY, MATURING IN MAY OF 2022.CONN'S INC - PROCEEDS FROM INCREMENTAL REVOLVING CREDIT FACILITY BORROWINGS ARE CURRENTLY BEING HELD ON COMPANY'S BALANCE SHEET.CONN'S INC - INCLUSIVE OF BORROWING, CONN'S HAS OVER $280 MILLION IN CASH ON ITS BALANCE SHEET AT THIS TIME.CONN'S INC - HAS AN IMMEDIATELY AVAILABLE BORROWING CAPACITY OF APPROXIMATELY $123 MILLION UNDER ITS REVOLVING CREDIT FACILITY.  Full Article

Conn’S, Inc. Reports Q3 Adjusted Non-Gaap Earnings Per Share $0.61 Excluding Items
Tuesday, 10 Dec 2019 

Dec 10 (Reuters) - Conn's Inc ::CONN’S, INC. REPORTS THIRD QUARTER FISCAL YEAR 2020 FINANCIAL RESULTS.Q3 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.61 EXCLUDING ITEMS.Q3 GAAP EARNINGS PER SHARE $0.51.Q3 EARNINGS PER SHARE ESTIMATE $0.54 -- REFINITIV IBES DATA.QTRLY SAME STORE SALES IMPACTED BY UNDERWRITING ADJUSTMENTS AND MARKET CHALLENGES IN CONSUMER ELECTRONICS CATEGORY.DISAPPOINTED BY Q3 SAME STORE SALES PERFORMANCE OF NEGATIVE 8.4%.SEES Q4 CHANGE IN TOTAL RETAIL SALES BETWEEN NEGATIVE 9% AND NEGATIVE 5%.SEES Q4 CHANGE IN SAME STORE SALES BETWEEN NEGATIVE 16% AND NEGATIVE 12%.QTRLY TOTAL REVENUES $377.7 MILLION VERSUS $373.8 MILLION.Q3 REVENUE VIEW $394.3 MILLION -- REFINITIV IBES DATA.  Full Article

Conn's Inc Reports Q2 Adjusted Earnings Per Share $0.62
Tuesday, 3 Sep 2019 

Sept 3 (Reuters) - Conn's Inc ::CONN’S, INC. REPORTS SECOND QUARTER FISCAL YEAR 2020 FINANCIAL RESULTS.Q2 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.62.Q2 EARNINGS PER SHARE $0.62.Q2 EARNINGS PER SHARE ESTIMATE $0.51 -- REFINITIV IBES DATA.QTRLY TOTAL RETAIL SALES INCREASED 3.3% AND SAME STORE SALES IN NON-HURRICANE HARVEY IMPACTED MARKETS INCREASED 0.4%.QTRLY TOTAL RETAIL SALES OF $306.1 MILLION, AN INCREASE OF 3.3% OVER PRIOR FISCAL YEAR PERIOD.FOR Q3 OF FISCAL YEAR 2020 SEES TOTAL RETAIL SALES GROWTH BETWEEN 4% AND 8%.FOR Q3 OF FISCAL YEAR 2020 SEES CHANGE IN SAME STORE SALES BETWEEN NEGATIVE 3% AND POSITIVE 1%.FOR Q3 OF FISCAL YEAR 2020 SEES FINANCE CHARGES AND OTHER REVENUES BETWEEN $94.0 MILLION AND $98.0 MILLION.DURING FISCAL YEAR 2020, PLANS TO OPEN A TOTAL OF 14 NEW STORES IN EXISTING STATES TO LEVERAGE CURRENT INFRASTRUCTURE.  Full Article

Conn's Reports Q1 Adjusted Earnings Per Share Of $0.58
Friday, 31 May 2019 

May 31 (Reuters) - Conn's Inc ::CONN’S INC REPORTS FIRST QUARTER FISCAL YEAR 2020 FINANCIAL RESULTS.Q1 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.58 EXCLUDING ITEMS.Q1 GAAP EARNINGS PER SHARE $0.60.Q1 EARNINGS PER SHARE ESTIMATE $0.53 -- REFINITIV IBES DATA.AUTHORIZES $75 MILLION STOCK REPURCHASE PROGRAM.BENEFIT HURRICANE HARVEY REBUILDING HAD IN Q1 LAST FISCAL YEAR CONTINUES TO IMPACT YEAR-OVER-YEAR SAME STORE SALES COMPARISONS.QTRLY TOTAL REVENUES $353.5 MILLION VERSUS $358.4 MILLION.SEES Q2 CHANGE IN SAME STORE SALES BETWEEN NEGATIVE 4% AND 0%.SEES Q2 RETAIL GROSS MARGIN BETWEEN 39.75% AND 40.25% OF TOTAL NET RETAIL SALES.  Full Article

Conn's Says George Bchara Promoted To Executive Vice President And CFO
Friday, 31 May 2019 

May 31 (Reuters) - Conn's Inc ::GEORGE BCHARA PROMOTED TO EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER.LEE WRIGHT PROMOTED TO EXECUTIVE VICE PRESIDENT AND CHIEF OPERATING OFFICER.  Full Article

Conn's Q4 Adjusted Non-GAAP Earnings Per Share $0.96 Excluding Items
Tuesday, 26 Mar 2019 

March 26 (Reuters) - Conn's Inc ::CONN'S, INC. REPORTS FOURTH QUARTER FISCAL YEAR 2019 FINANCIAL RESULTS.Q4 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.96 EXCLUDING ITEMS.Q4 GAAP EARNINGS PER SHARE $0.91.Q4 EARNINGS PER SHARE ESTIMATE $0.76 -- REFINITIV IBES DATA.Q4 NON-HARVEY SAME STORE SALES UP 3.7%.CONN'S - QTRLY SAME STORE SALES FELL 1.4%, UP 660 BASIS POINTS.QTRLY TOTAL RETAIL SALES OF $338.7 MILLION, AN INCREASE OF 1.3%.CONN'S - SEES CHANGE IN SAME STORE SALES BETWEEN NEGATIVE 5% AND NEGATIVE 1% IN Q1.SEES RETAIL GROSS MARGIN BETWEEN 39.5% AND 40.0% OF TOTAL NET RETAIL SALES IN Q1.CONN'S - SEES FINANCE CHARGES AND OTHER REVENUES BETWEEN $88.5 MILLION AND $92.5 MILLION IN Q1.QTRLY TOTAL REVENUES ABOUT $433 MILLION VERSUS $420.4 MILLION.Q4 REVENUE VIEW $438.1 MILLION -- REFINITIV IBES DATA.  Full Article

BRIEF-Conn's identified material weakness in controls over financial reporting

* CONN'S -- CONTROL DEFICIENCY RESULTING IN FAILURE TO DETECT ACCOUNTING ERRORS CONSTITUTED A MATERIAL WEAKNESS IN INTERNAL CONTROL OVER FINANCIAL REPORTING AS OF JANUARY 31 -- SEC FILING Further company coverage: