Conn's, Inc. Announces Securitization Transaction

Piper Jaffray Cuts Price target on Conn's (CONN) to $37 Following 2Q and Announced Portfolio Securitization

Piper Jaffray reiterates an Overweight rating on Conn's Inc. (NASDAQ: CONN), and cut the price target to $37.00 (from $45.00), following the company's Q2 earnings and portfolio securitization announcement. Analyst Peter Keith views the securitization as a positive, saying that the securitization, while dilutive to EPS for now, sets the framework for a... More

Conn's (CONN) Appoints New CEO, President

Conn's (NASDAQ: CONN) announced that its Board of Directors, implementing a long-planned leadership succession, has appointed Norman Miller to serve as the Companys new Chief Executive Officer and President, effective September 7, 2015. Mr. Miller will also be elected to the Board of Directors.

Mr. Miller brings over 30 years of transformational business leadership experience to Conns, including serving as President of Sears Automotive and as President and Chief Operating Officer of DFC Global Corporation. He also has held progressive management and leadership roles at ARAMARK, Nestle, Kraft and Pepsi. Mr. Miller brings a unique... More

Conn's (CONN) Misses Q2 EPS by 2c; Updates on Strategic Initiatives; Approves $75M Common Stock Buyback

Conn's (NASDAQ: CONN) reported Q2 EPS of $0.45, $0.02 worse than the analyst estimate of $0.47. Revenue for the quarter came in at $396.1 million versus the consensus estimate of $396.38 million.

Same store sales for the quarter increased 6.7%, excluding the impact of the Company's decision to exit video game products, digital cameras, and certain tablets.

Conn's announced that, following a thorough exploration of strategic alternatives to enhance shareholder value, it has completed a strategic repositioning of its business and implemented a long-planned leadership succession.

Strategic Initiatives

In separate press releases issued today, Conns... More