Conn's Trades Higher On Big Q2 Earnings Beat

Furniture retailer Conn's CONN reported second-quarter earnings of 62 cents per share, which beat the analyst consensus estimate of 51 cents by 21.57%. This is a 8.77% increase over earnings of 57 cents per share from the same period last year.

The company reported quarterly sales of $401.059 million, which beat the analyst consensus estimate of $379.02 million by 5.81%. This is a 4.27% increase over sales of $384.62 million the same period last year.

"Retail sales growth as a result of new store openings, strong retail profitability, and favorable credit performance drove record second quarter earnings of $0.62 per diluted share,” said CEO Norm Miller. “Our e-commerce sales are quickly ramping, and we are well positioned to serve our customers online as we expand our geographic footprint. During the second half of this fiscal year, we expect to lap the benefits Hurricane Harvey rebuilding efforts had on same store sales, which has impacted the year-over-year sales comparison over the past four quarters."

Conn's shares were trading up 14% at $22.99 in Tuesday’s pre-market session. The stock has a 52-week high of $42.65 and a 52-week low of $15.40.

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