Conn’s Inc. posted adjusted earnings per share of 35 cents in the first quarter of fiscal 2013, beating the Zacks Consensus Estimate of 33 cents and the year-ago earnings of 14 cents per share.
The improvement in earnings was buoyed by higher sales, efficient cost containment effort and lower interest expense. In the first quarter, the seller of home appliances and consumer electronics grew 4.6 percent year over year in revenues to $200.9 million which slightly lagged the Zacks Consensus Estimate of $202.0 million....
Conn's Inc. said Tuesday that its first-quarter revenue climbed 6 percent as sales of home appliances,furniture, mattresses and home office products rose. But the performance fell short of Wall Street's expectations and its stock declined in early trading.
The Beaumont, Texas, company's stores sell home appliances, furniture, mattresses and other goods. Its results were helped by higher average selling prices and a broader selection of furniture and mattresses.