Why Are Conn's Shares Trading Lower Today

• Conn's Inc (NASDAQ:CONN) reported a fourth-quarter FY21 sales decline of 9.5% year-on-year, to $402.48 million, missing the consensus of $412.22 million.
• Same-store sales increased 6.2% versus last year. 
• Adjusted EPS of $0.33 missed the consensus of $0.48.
• eCommerce sales jumped 131.8% Y/Y to $24.1 million. Retail segment revenues increased 13%, and the credit segment revenues declined 4.9%.
• The costs and expenses for the quarter climbed 13.8% Y/Y to $387.5 million.
• The operating margin was 3.7%, and operating income for the quarter fell 44.9% to $15 million.
• The company held $39.6 million in cash and equivalents as of January 31, 2022. The net debt of Conn's amounted to $483.4 million.
• Price Action: CONN shares traded lower by 11.6% at $18.04 in premarket on the last check Tuesday.