Posts Tagged ‘CONN’

Conn’s Inc. (CONN) jumps on earnings estimates

Wednesday, September 7th, 2011

Conn’s Inc. (Nasdaq: CONN) shares leapt 33.6% to $7.27 after the electronics and furniture seller projected 2012 earnings above estimates. Volume for the stock topped 926,000 shares, more than triple its daily average.

A news release dated September 7 revealed that the company’s total revenues were $184.4 million, down 13.5% from the same period in the prior fiscal year, on a same store sales decline of 12.8%; However, retail segment retail gross margin increased 320 basis points to 28.9%.

What’s more, adjusted diluted earnings per share were $0.17 for the second quarter of fiscal 2012, excluding the impact of the term loan payoff and store closings, as compared to adjusted diluted earnings per share of $0.06 for the same period in the prior fiscal year, on a higher number of shares outstanding in the current year period.

The Company initiated earnings guidance, for the fiscal year ending January 31, 2012, of adjusted diluted earnings per share of $0.65 to $0.75.

The release quoted Conn’s chairman Theodore Wright as saying, “We are pleased with our progress on improving margins and reducing our cost of capital. While softer industry conditions resulted in sales slightly below our expectations, the changes made to date position us to drive improved profitability.”

The Company is a specialty retailer currently operating 71 retail locations in Texas, Louisiana and Oklahoma: with 23 stores in the Houston area, 18 in the Dallas/Fort Worth Metroplex, eight in San Antonio, three in Austin, five in Southeast Texas, one in Corpus Christi, four in South Texas, six in Louisiana and three in Oklahoma.

CONN conquers, F popular, GFC sags

Thursday, December 2nd, 2010

Conn’s Inc. (NasdaqGS: CONN) soared 18.89 percent to $3.84 in afternoon trading Thursday. Volume 503,156 shares nearly doubled its normal full-day average volume. Consumer electronics chain Conn’s Inc. said Thursday that its third-quarter loss narrowed to $5.1 million, or 23 cents per share, compared with a loss of $14.4 million, or 64 cents per share, during the same period a year prior

Ford Motor Company (NYSE: F) had great volume Thursday afternoon, dealing in 60,101,842 shares, rapidly catching up on its full-day average of 83,619,400. Ford shares advanced 2.34 percent to $16.84. The carmaker announced today that consumer demand for its new lineup of fuel-efficient vehicles triggered a 24-percent sales increase in November, compared with a year ago, according to a news release from the company. Ford sold 147,338 units last month.

Genova Financial Group Ltd. (NYSE: GFC) dropped 13.69 percent in price early afternoon Thursday to $22.00, on volume of 87,124 shares, or nearly eight times its full-day average. The Bermuda-based bank announced last month a share consolidation on the basis of one ordinary share for every five ordinary shares of the company