Conn's Q2 profit plummets by two-thirds

Beaumont, Texas Consumer electronics retailer Conn's said Thursday that its second-quarter net income fell by more than two-thirds to $1.7 million, from net income of $5.2 million a year earlier.

The company cited falling sales for the poor performance.

Revenue fell 7% to $213.7 million, from $230.4 million in the year-ago period. Sales beat analysts’ expectations of $207.5 million.

Same-store sales fell 6.4% during the quarter.

Conn's operates 76 stores in the United States, mostly in Texas.