Conn’s Hopes to Double E-Commerce Sales to $50M This Year

Conn’s same-store sales improved quarter to quarter in fiscal 2021 ended Jan. 31, despite “industry-wide disruptions in the global supply chain,” said CEO Norm Miller on a Q4 call Wednesday. “We are well positioned for same-store sales growth going forward, as our products and our financing options resonate with consumers.” Same-store sales, “positive” since January, rose more than 3% in the first two months of fiscal Q1 ending April 30, said Miller. “Recent retail trends are especially encouraging, as we have offset the significant challenges” that February’s winter storm “had in many of our markets,” he said. Conn’s lost more than 170 “store selling days” to the storm and its aftermath, compared with 100 days lost to Hurricane Harvey, he said. E-commerce sales increased to more than $26 million in fiscal 2021 from $3 million two years ago, he said. “We believe we can double e-commerce sales again this year to over $50 million, as we remain focused on serving our customers where and how they choose to shop.” The stock soared 24.3% Wednesday, closing at $19.45.