According to these reports, Conn's is considering shuttering up to 100 of its locations around the U.S. That's worth noting as the furniture company only operates 170 stores across 15 states. All of this comes as Conn's has had a rough few years. The last two fiscal years have been losses for it and reports suggest it will see the same again in 2024. That helps explain why the company is closing stores and keeping a Chapter 11 filing on the table. A bankruptcy filing would no doubt be bad for investors in C ...

Core Viewpoint - Conn's, Inc. has received a delinquency notification from Nasdaq due to a delay in filing its Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2024, which indicates non-compliance with Nasdaq Listing Rule 5250(c)(1) [1][2] Company Overview - Conn's, Inc. is a specialty retailer of home goods, including furniture, mattresses, appliances, and consumer electronics, operating over 550 stores across 15 states and online [3] - The company employs approximately 4,000 individuals and offers high-quality products, next-day delivery, and personalized payment options, including an in-house credit program [3] Compliance and Regulatory Information - The company has 60 days, until August 19, 2024, to submit a plan to Nasdaq to regain compliance with the listing rule [2] - If the plan is accepted, Conn's may have up to 180 days from the original due date, until December 16, 2024, to file the Form 10-Q [2]

32 Table of Contents We may fail to realize all of the anticipated benefits of the acquisition. The success of the transaction will depend, in part, on our ability to realize the anticipated benefits and cost savings from combining Conn's and Badcock's businesses. The anticipated benefits and cost savings of the acquisition may not be realized fully or at all, may take longer to realize than expected, may require more nonrecurring costs and expenditures to realize than expected or could have other adverse e ...

Company Participants Conference Call Participants Operator As a reminder, this conference call is being recorded. The company's earnings release, dated April 11, 2024 was distributed this morning and is accessed via the company's investor relations website at ir.conns.com. During today's call, management will discuss, among other financial performance measures, adjusted net income, adjusted retail segment operating loss, and adjusted credit segment operating income. Your statements today are Norm Miller, th ...

Conn's (CONN) came out with a quarterly loss of $1.25 per share versus the Zacks Consensus Estimate of a loss of $1.57. This compares to loss of $1.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20.38%. A quarter ago, it was expected that this retailer would post a loss of $1.48 per share when it actually produced a loss of $2.03, delivering a surprise of -37.16%.Over the last four quarters, the company has surpassed conse ...

6 CONN'S, INC. AND SUBSIDIARIES CREDIT SEGMENT FINANCIAL INFORMATION (unaudited) (dollars in thousands) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------------------------------------------|-------|-------|------------------------|--------|-------|--------------|-------|-----------------------|-------|------------| | Revenues: | | | Three January \n2024 | Months | 31, | Ended \n2023 | | Year January \n2024 | Ended | 31, \n2023 | | Finance cha ...

THE WOODLANDS, Texas, April 11, 2024 (GLOBE NEWSWIRE) -- Conn's, Inc. (NASDAQ:CONN) ("Conn's" or the "Company"), a specialty retailer of home goods, including furniture and mattresses, appliances, and consumer electronics, today announced its financial results for the quarter and year ended January 31, 2024.   "Since completing the transformative transaction with W.S. Badcock ("Badcock") in December 2023, we have focused on successfully integrating the two organizations, aligning around a common culture, an ...

Investors interested in Retail-Wholesale stocks should always be looking to find the best-performing companies in the group. Is Conn's (CONN) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Conn's is one of 218 companies in the Retail-Wholesale group. The Retail-Wholesale group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the gr ...

(1) Includes provision for uncollectible interest, which is included in finance charges and other revenues, and changes in expected future recoveries. (2) Charge-offs include the principal amount of losses (excluding accrued and unpaid interest). Recoveries include the principal amount collected during the period for previously charged-off balances. Net charge-offs are calculated as the net of principal charge-offs and recoveries. We manage our customer accounts receivable portfolio using delinquency as a k ...

Financial Data and Key Metrics Changes - Total revenues for the second quarter were $306.9 million, representing an 11.5% year-over-year decline [51] - The company reported a GAAP net loss of $1.39 per diluted share compared to net income of $0.09 per diluted share for the same period in fiscal year 2023 [51] - Retail revenues were $246.3 million, a 12% year-over-year decline, primarily driven by a 15.4% decline in same-store sales [15] - Retail gross margin increased by 230 basis points to 36.9% compared to 34.6% for the same period in fiscal year 2023 [16] - SG&A expenses in the retail segment were $101.4 million, up from $98 million for the same period last fiscal year [17] Business Line Data and Key Metrics Changes - Sales financed through the company's in-house credit option increased by 4.3% year-over-year, while sales through the lease-to-own offering increased by 2.5% [3] - The credit segment reported a loss before taxes of $4.5 million compared to income of $7.9 million for the same period last fiscal year [22] - Finance charges and other revenues in the credit segment declined by 5.6% year-over-year to $63.1 million [52] Market Data and Key Metrics Changes - The 60-day delinquency balance was 11.1% at July 31, 2023, compared to 11% at July 31, 2022 [52] - The balance of re-aged accounts as a percent of the portfolio was 15.9% compared to 16.1% for the same period in fiscal year 2023 [19] Company Strategy and Development Direction - The company is focusing on improving profitability, controlling credit risk, and leveraging its value proposition to serve customers and drive sales [13] - A new application process was launched to make it easier for customers to apply for payment options with little-to-no impact on their credit score [14] - The company plans to pause new store openings after reaching a total of 10 new stores this fiscal year, focusing instead on driving growth within existing locations and online [46][47] Management's Comments on Operating Environment and Future Outlook - Management expects the economic environment to remain fluid but is confident in the progress being made and believes the company will emerge stronger [13] - The company anticipates continued improvements in total retail sales and same-store sales as growth strategies take hold [27] - Management noted that tighter credit conditions could create sales opportunities, particularly for the company's offerings [68] Other Important Information - The company entered into a $50 million 3-year delayed draw term loan to improve its capital position [23] - A $273.7 million ABS transaction was completed, which was 10x oversubscribed, indicating strong demand for the company's bonds [24] - The company expects annual SG&A expenses to increase by $15 million to $25 million due to new stores and investments in e-commerce [25] Q&A Session Summary Question: What drove the sequential decline in delinquencies? - Management indicated that delinquencies remained stable and down year-over-year due to a shift in the customer mix towards higher credit quality customers [9] Question: How does the company view the trajectory of sales and profitability? - Management believes that ongoing improvements in sales and the eCommerce business will drive incremental sales over the next 24 months [61] Question: What are the expectations for margins moving forward? - Management confirmed that there were no one-time items affecting margins and that improvements were driven by pricing and assortment changes [69]