Conn’s, Inc. (CONN) stock surged 4.24% in the current-market trading session at the price of $23.12 after reporting its financial results for the third fiscal quarter ended 31st October 2021.  

CONN, headquartered in Texas, United States, is a specialty retailer of furniture, mattress, office products, electronics, and home appliances. The company offers a diverse range of products on a seasonal basis.  

CONN Third Quarter Fiscal 2022 Financial Results 

On 7th December 2021, CONN announced its financial results for the third fiscal quarter ended 31st October 2021. The company has also presented its business updates.  

Financial Highlights 

CONN reported a net income of $18.2 million, or per diluted share of $0.60, for the quarter ended 31st October 2021. For the three months ended 31st October 2020, net income was $7.4 million, or per diluted share of $0.25. On 31st October 2021, the company reported net debt of 37.7%. Net debt as a percent of the portfolio balance was 48.2% on 31st October 2020. Same-store sales grew 20.6% for the third fiscal quarter ended 31st October 2021. eCommerce sales increased 294.8% to $19.2 million for the third quarter of fiscal 2022. 

For the three months ended 31st October 2021, CONN calculated retail revenues of $334.8 million. It represents a gain of $74.9 million, or 28.8%, from $259.9 million for the third quarter ended 31st October 2020. For the three months ended 31st October 2021, credit revenues totaled $70.6 million. It represents a drop of $3.6 million, or 4.9%, from $74.2 million for the three months ended 31st October 2020.  For the three months ended 31st October 2021, operating income from the retail segment totaled $22.5 million. The company reported a retail segment operating income of $15.2 million for the third quarter of fiscal 2021. 

Management Comments  

Chief Executive Officer of CONN, Chandra Holt, remarked that he is pleased to report strong performance in their fluid business environment. The company is well-positioned for the fourth quarter of 2021 and the holiday season. They are on track to achieve notable revenue growth and record earnings in fiscal 2022. He wants to thank the whole team for its continued hard work and devotion, Ms. Holt added.