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Conn’s Q1 income nearly doubles; raises forecast
The Woodlands, Texas -- Conn's Inc.’s net income nearly doubled in its first-quarter, with strong sales of furniture and mattresses and some higher prices. The company lifted its fiscal 2014 adjusted earnings forecast.
Conn's earned a better-than-expected $22.2 million for the quarter ended April 30, up from $11.6 million a year ago.
Revenue jumped 25% to $251.1 million. Same-store sales rose 16.5%.
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Tucker Development is bringing ShopRite to Springfield Avenue Marketplace
Newark, N.J. -- Tucker Development Corp. has signed a deal with Wakefern Food Corp. retail cooperative to bring a 67,000-sq.-ft. ShopRite grocery store to Springfield Avenue Marketplace in Newark, N.J.
Wakefern is the merchandising and distribution arm for ShopRite stores.
The new ShopRite will anchor the 125,000-sq.-ft. center set to break ground this fall. When complete, the center will serve approximately 280,000 Newark residents, 180,000 employees and 60,000 college students and faculty.