Conn’s Q2 profit up, raises forecast

Beaumont, Texas -- Conn's Inc. posted a better-than-expected a second-quarter profit of $11.6 million, compared with a loss of $3.1 million in the year-ago period. The company also raised its full-year profit forecast for the third time.

Conn’s said revenue rose 10.9% to $207.4 million. Same-store sales rose 21.5% for the quarter, fueled by a 57.5% rise in same-store sales of furniture and mattresses.

“Improvements in our retail operating performance continued into August, when we experienced growth in same store sales of 12% on top of a 6% increase last year,” stated Theodore M. Wright, chairman and CEO. “

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