Why Are Conn's Shares Trading Lower Today

by Shivani Kumaresan, Benzinga Staff Writer

March 29, 2022 7:54 AM | 1 min read |

Conn's Inc CONN reported a fourth-quarter FY21 sales decline of 9.5% year-on-year, to $402.48 million, missing the consensus of $412.22 million.
Same-store sales increased 6.2% versus last year.
Adjusted EPS of $0.33 missed the consensus of $0.48.
eCommerce sales jumped 131.8% Y/Y to $24.1 million. Retail segment revenues increased 13%, and the credit segment revenues declined 4.9%.
The costs and expenses for the quarter climbed 13.8% Y/Y to $387.5 million.
The operating margin was 3.7%, and operating income for the quarter fell 44.9% to $15 million.
The company held $39.6 million in cash and equivalents as of January 31, 2022. The net debt of Conn's amounted to $483.4 million.
Price Action: CONN shares traded lower by 11.6% at $18.04 in premarket on the last check Tuesday.