Conn's Posts Q3 Loss - Quick Facts

(RTTNews) - Conn's, Inc. (CONN), a specialty retail of furniture, mattresses, home appliances, consumer electronics and provider of consumer credit, reported a third-quarter net loss of $3.06 million or $0.08 per share, compared to profit of $24.38 million or $0.66 per share, a year ago.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.68 for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased to $370.06 million from $310.88 million, last year. Analysts expected revenue of $376.77 million for the quarter. Same store sales declined 1.0%.

Conn's announced the departure of Brian Taylor, the company's CFO. Effective immediately, the company has appointed Mark Haley as Interim CFO. Prior to joining Conn's as Vice President and Chief Accounting Officer in October 2014, Haley was Vice President and Chief Accounting Officer at Coldwater Creek, Inc. for four years. The company has engaged an executive search firm to identify qualified candidates for the permanent CFO position. The search process will include both internal and external candidates.

With the ongoing review of strategic alternatives and the oversight initiatives being undertaken by the company, Conn's, Inc. has decided to withdraw its earnings guidance for fiscal 2015. For the fourth quarter, the company expects its same stores sales to be flat to up 3%.