Conn's (CONN) July Comps Rose 4%

Conn's (NASDAQ: CONN) reported $112.2 million in total retail net sales for the month ended July 31, 2015, a 12.7% increase compared to the same prior year period. For the three months ended July 31, 2015, total retail net sales were $325.0 million, a 12.7% increase compared to the same prior year period.

The following table presents the Company's percentage change in same store sales for the month ended and three months ended July 31, 2015, compared to the same prior-year periods, and the 60-plus day delinquency rate as of July 31, 2015:

Theodore M. Wright, Conn’s chairman and chief executive officer, commented, "Greater than 60-day delinquency was 9.2% as of July 31, 2015 compared to 8.7% as of July 31, 2014. Greater than 60-day delinquency as of July 31, 2015 increased seasonally compared to the June 30, 2015 rate of 8.9%."

"Same store sales for the month increased 4.0% against an increase of 10.7% in July last year. Same store sales increased 3.1% for the second quarter of fiscal 2016. Same store sales were impacted by our decision to exit video game products, digital cameras, and certain tablets. Excluding the impact from these products, same store sales for the month increased 8.0% and for the quarter increased 6.7%."

"For the month of July, excluding the impact from video game products and digital cameras, same store sales for consumer electronics increased by 6.1%. The television category increased 6.9% due to higher average selling prices as a result of an increase in the proportion of television sales from Ultra HD televisions, partially offset by lower same store unit sales. Same store unit sales and average selling prices increased in the furniture and mattress category. Same store unit sales increased in the home appliance category, offset by lower average selling prices. Excluding the impact from tablets, same store sales for home office were up 7.7% with an increase in same store unit sales, offset by lower average selling prices."

All of the above amounts are preliminary estimates and are subject to change upon completion of the Company's financial statement closing process. The Company has provided monthly same store sales, portfolio balance and 60-plus day delinquency rate data for all monthly periods since and including February 2012 on its investor relations website, at ir.conns.com.

Conn's expects to release August sales and delinquency data on September 8, 2015.

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