— Conn’s Inc. (NASDAQ: CONN) reported adjusted earnings of $0.61 per share for the third quarter of 2020, up 3.4% year-over-year, vs. $0.54 per share expected.
— Net income increased to $15.1 million or $0.51 per share from $14.6 million or $0.45 per share last year
— Total revenues rose to $377.7 million from $373.8 million in the third quarter of 2019, vs. $394.29 million expected
— Recorded quarterly credit spread of 1,070 basis points in the third quarter, the highest in six years
— Repurchased 1,261,819 shares of common stock for an aggregate amount of $24.7 million
— Opened six new Conn’s HomePlus showrooms during the quarter, bringing the total showroom count to 137 in 14 states
— Expects total sales to decline between 9% and 5% in the fourth quarter; expects same store sales to be down 16%-12%
— Expects fourth-quarter retail gross margin to be between 39.25% and 39.75% of total net retail sales