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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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Ascena Retail Group Q3 profit down 37% amid charges
Suffern, N.Y. -- Ascena Retail Group Inc. reported its fiscal third-quarter net income dropped nearly 37% amid costs related to its acquisition of Charming Shoppes and a charge tied to debt extinguishment. The chain also lowered its full-year earnings forecast.
Net income slipped to $31.2 million for the quarter that ended April 27, from $49.4 million in the same quarter a year ago.
Revenue rose nearly 46% to $1.14 billion, boosted by the company’s acquisitions of the Lane Bryant and Catherines chains. Same-store sales fell 4%.