Conn's net sales up
Specialty retailer Conn’s has posted a 4.2% increase in net sales to $189.5m in the quarter ended 31 January 2012, compared to the same period last year.
Retail segment net sales, which represent total product sales, repair service agreement commissions and service revenues, were up by $7.6m from the year-ago quarter.
Same store sales jumped 12.1% in the quarter ended 31 January, compared to the corresponding quarter last year.
During the quarter, consumer electronics category sales fell primarily as a result of a 30.6% decrease in the unit sales of televisions. Home appliance category sales grew on a 21.5% rise in the average selling price.
Retail segment gross margin, which includes gross profit from both product and repair service agreement sales, was 29%, compared to 24% in the prior year period.
Conn's currently operates 65 retail locations in Texas, Louisiana and Oklahoma. The firm retails consumer electronics, home appliances, furniture, mattresses, computers and, lawn and garden products.
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