Conn's Inc plunges on withdrawing FY outlook, CEO resignation

Conn's

18/10/2022 14:21

(Updates)
    ** Shares of home goods retailer Conn's Inc  CONN.O  fall 
24.9% to $6.09 premarket; stock on pace to open at over two-year
low 
    ** Co withdraws FY23 outlook, citing macroeconomic and
retail uncertainty; CONN's sales have slumped this year as
demand for home appliances and furniture slowed due to rampant
inflation
    ** CONN also announces immediate resignation of announced
CEO Chandra Holt; Former CEO Norman Miller to take over on
interim basis
    ** As of last close, CONN had fallen ~65.5% this year
 (Reporting by Saikeerthi and Uday Sampath in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))