- Conn's press release ( NASDAQ: CONN ): Q2 Non-GAAP EPS of $0.04 misses by $0.05 .
- Revenue of $346.63M (-17.1% Y/Y) misses by $23.6M . due to a 19.4% decline in total net sales, and a 6.3% reduction in finance charges and other revenues.
- Same store sales decreased 22.0%.
- eCommerce sales increased 11.5%.
- “Challenging macroeconomic conditions continued to pressure consumer spending during our second quarter, which disproportionately affected year-over-year sales to our financial access customer segment and sales of our discretionary product categories. While we entered the second quarter with a cautious outlook for the remainder of the fiscal year, the retail environment has continued to deteriorate prompting us to accelerate our efforts to reduce operating costs, and lower capital expenditures as well continue to maintain conservative credit underwriting. In July, we successfully completed our latest ABS transaction and ended the second quarter with over $211.0 million of available liquidity and cash. This provides us with the financial flexibility to support the current needs of our business, while investing in our long-term growth and transformation,” stated Chandra Holt, Conn's ( CONN ) Chief Executive Officer.
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Conn's Non-GAAP EPS of $0.04 misses by $0.05, revenue of $346.63M misses by $23.6M