Brief: Conn’S Inc Reports Q2 Fiscal Year 2023 Financial Results

Conn's

30/08/2022 11:07

Aug 30 (Reuters) - Conn's Inc  CONN.O :
    * CONN’S, INC. REPORTS SECOND QUARTER FISCAL YEAR 2023
FINANCIAL
RESULTS
    * CONN'S INC QTRLY SAME STORE SALES DECREASED 22.0%
    * CONN'S INC QTRLY NET EARNINGS WERE $0.09 PER DILUTED SHARE
    * CONN'S INC QTRLY TOTAL CONSOLIDATED REVENUE DECLINED 17.1%
TO
$346.6 MILLION
    * CONN'S INC QTRLY ADJUSTED EARNINGS WERE $0.04 PER DILUTED
SHARE
    * CONN'S INC - CONDUCTING AN EXTENSIVE REVIEW AND
PRIORITIZATION
OF ITS COST STRUCTURE
    * CONN'S INC - EXPECTS CURRENT INITIATIVES, WITH PRIOR
ACTIONS, TO
GENERATE COST SAVINGS OF ABOUT $12.0 - $16.0 MILLION IN BACK
HALF OF THIS FISCAL YEAR
    * CONN'S INC - DELAYING OR ELIMINATING SEVERAL PLANNED
CAPITAL
INVESTMENTS
    * CONN'S INC - EXPECTS TO REDUCE INVESTMENTS IN CAPITAL
EXPENDITURES FOR FISCAL YEAR 2023 BY ABOUT $20.0 MILLION
COMPARED TO ITS PRIOR EXPECTATION

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