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New Home Store, Quarterly Comps Keep Conn's Advancing

Monday November 19th, 2012 - 1:31PM

Conn's, Inc. has announced that it is opening one of its furniture and mattress oriented HomePlus stores in Albuquerque, NM. The announcement came just after the company announced a double digit comparable store sales gain in the quarter ended October 31.

Located at 45 Hotel Circle, the Albuquerque store offers consumer electronics and home appliances even as it showcases furniture and mattresses. The company also stocks additional complementary home products as well as seasonal goods.

"We are pleased to open a Conn's HomePlus location in Albuquerque, which represents our first store in New Mexico," stated Theodore Wright, Conn’s chairman and CEO.

Conn's operates 66 retail locations, with 57 in Texas, six in Louisiana, two in Oklahoma and, now, one in New Mexico.

In the most recently completed quarter, Conn’s sales were $167.3 million, an 8% increase over the prior-year period. Comps grew 12.6% over the year-prior period.

"We delivered our fifth straight quarter of double-digit, year-over-year same store sales growth," Wright said, commenting on quarterly sales. "The expansion of our furniture and mattress business, and improved sales mix across all categories increased our retail gross margin. Consumer electronic same store sales were down only 3% despite continued industry headwinds in this category."