Conn’s has reached a settlement with the Securities and Exchange Commission. The settlement arises from the previously disclosed SEC investigation commenced in November 2014 into the company’s underwriting policies and bad debt provisions from July 31, 2012, to July 31, 2014.
The fourth quarter provided a strong finish to Conn’s fiscal year as the company reported growth in sales and net income for the period ended January 31.
Conn’s reported its first comparable sales gains in three years and the promotion of John Davis to the post of president of credit and collections.
The July 23 issue of HOMEWORLD BUSINESS® features the 19th annual Impact Merchants special report. Housewares suppliers, representing the categories that HomeWorld covers, once again were asked to nominate buyers and merchandisers believed to have made a significant impact during the past year.
First quarter retail segment sales at Conn’s were down slightly, but company officials noted positive movement toward the end of the quarter driven by growth in comparable store sales in April.