Conn's (CONN) January SSS Rose 4.9%

Conn's (NASDAQ: CONN) is up 8% in pre-open trading Thursday after the company reported $93.6 million in total retail net sales for the month ended January 31, 2015, a 16.8% increase compared to the same prior year period. For the three months ended January 31, 2015, total retail net sales were $350.5 million, a 16.2% increase compared to the prior year quarter.

Total same store sales rose 4.9% in the month.

60-plus day delinquency rate was 9.7%

Theodore M. Wright, Conn’s chairman and chief executive officer, commented, "Greater than 60-day delinquency was flat as of January 31, 2015 compared to December 31, 2014 without the benefit of meaningful portfolio growth. Less than 60-day delinquency at January 31, 2015 declined compared to last month and continues to be well below the same period a year ago. Collections were strong for the month of January as our payment rate increased above the prior year January, and was flat for the quarter compared to a year ago.

"Same store sales for the month increased 4.9% against an increase of 28.2% in January last year. Same store sales increased 1.3% for the quarter and 8.0% for fiscal 2015. We continue to experience headwinds from tighter underwriting compared to a year ago, with an estimated impact of approximately 5-7% in the quarter. Tighter underwriting, along with additional store openings, mostly impacted our Arizona and New Mexico stores. Excluding Arizona and New Mexico locations, same store sales increased 6.9% for the month."

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