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Sears Hometown Q1 profit falls 27%
Hoffman Estates, Ill. -- Sears Hometown and Outlet Stores Inc. reported a 27% drop in first-quarter earnings amid a cool spring throughout much of the country and rising costs. But the company, a spinoff from Sears Holdings Corp., pointed to improving signs in late spring.
Sears Hometown earned $15 million in the quarter that ended May 4, compared with $20.6 million in the year ago period.
Revenue dropped 3% to $601.1 million. Same-store sales fell 5%.
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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%.