Conn's Inc Reaffirms FY 2014 EPS Guidance; Comments On FY 2014 Same Stores Sales Guidance

Thursday, 5 Sep 2013 07:00am EDT 

Conn's Inc reaffirmed its earnings guidance for the fiscal 2014 to diluted earnings per share (EPS) of $2.50 to $2.65 on an adjusted basis. The following expectations were considered in developing the current guidance for fiscal 2014: Same stores sales up 15% to 20%; New store openings of between 10 and 12; Retail gross margin between 37.5% and 38.5%; An increase in the credit portfolio balance; Credit portfolio interest and fee yield of between 17.8% and 18.1%, reflecting a higher proportion of the portfolio balance represented by no-interest credit programs than in fiscal 2013; Credit segment provision for bad debts of between 8.5% and 9.0% of the average portfolio balance outstanding based on the same store sales and new store opening expectations presented above; Selling, general and administrative expense of between 28.0% and 29.0% of total revenues; and Diluted shares outstanding of approximately 37.0 million. 

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10:57am EST