UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K
CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (Date of earliest event reported): August 7, 2012


Conn’s, Inc.
(Exact name of registrant as specified in its charter)

Delaware

000-50421

06-1672840

(State or other jurisdiction of

incorporation)

(Commission File Number)

(IRS Employer Identification No.)

3295 College Street

Beaumont, Texas

77701

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code:  (409) 832-1696


Not applicable
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




Item 2.02  Results of Operations and Financial Condition.

On August 7, 2012, the Company issued a press release announcing its retail segment net sales results for the quarter ended July 31, 2012.

The press release also contains the announcement of the Company’s conference call and audio webcast to be conducted on Wednesday, September 5, 2012, at 10:00 A.M. Central Time, from the Company’s corporate headquarters.  

A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01(c) Exhibits.

Exhibit 99.1    Press Release, dated August 7, 2012.

All of the information contained in Item 2.02 and Item 9.01(c) in this Form 8-K and the accompanying exhibit shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


CONN'S, INC.

 
 

Date:

August 7, 2012

By:

/s/ Brian E. Taylor

Name:

Brian E. Taylor

Title:

Chief Financial Officer and

Vice President

Exhibit 99.1

Conn’s, Inc. Reports Net Sales for the Quarter Ended July 31, 2012

BEAUMONT, Texas--(BUSINESS WIRE)--August 7, 2012--Conn’s, Inc. (NASDAQ: CONN), a specialty retailer of home appliances, furniture, mattresses and consumer electronics and provider of consumer credit, today announced its net sales for the three months ended July 31, 2012.

Net sales were $171.7 million for the three months ended July 31, 2012, an increase of $19.7 million, or 12.9%, from the same period last year. Net sales represent total product sales, repair service agreement commissions and service revenues. Same store sales (sales recorded in stores operated for the entirety of both periods) for the quarter ended July 31, 2012 rose 21.5% over the comparable prior-year period.

Theodore M. Wright, the Company’s Chairman and CEO, commented, “We opened our new store in Waco, Texas in mid-June. The new Conn’s Home Plus store delivered solid revenues in July – positioning it within the top 10% of our 65 stores ranked on sales.”

The retail gross margin, which includes gross profit from both product and repair service agreement sales, was approximately 33.5% for the quarter ended July 31, 2012, an approximate 470 basis point and 760 basis point increase over the same periods in fiscal 2012 and 2011, respectively. Retail gross margins increased sequentially each month within the current quarter. The following table presents net sales by category and changes in net sales for the quarter:

                               
Quarter ended July 31, Same store
% change
2012         % of Total         2011         % of Total

Change

% Change
(dollars in thousands)
Home appliance $ 51,922 30.3 % $ 51,479 33.9 % $ 443 0.9 % 7.2 %
Furniture and mattress 31,942 18.6 % 21,361 14.1 % 10,581 49.5 % 57.5 %
Consumer electronic 46,590 27.1 % 47,407 31.2 % (817 ) (1.7 )% 4.6 %
Home office 14,436 8.4 % 10,727 7.0 % 3,709 34.6 % 41.5 %
Other   11,134 6.5 %   7,257 4.8 %   3,877   53.4 % 61.4 %
Total product sales 156,024 90.9 % 138,231 91.0 % 17,793 12.9 % 20.0 %
 
Repair service
agreement commissions 12,355 7.2 % 9,945 6.5 % 2,410 24.2 % 35.7 %
Service revenues   3,273 1.9 %   3,811 2.5 %   (538 ) (14.1 )%
Total net sales $ 171,652 100.0 % $ 151,987 100.0 % $ 19,665   12.9 % 21.5 %
 

The following provides a summary of items influencing the Company’s major product categories during the quarter, compared to the same quarter in the prior fiscal year:


All of the above amounts are preliminary estimates and are subject to change upon completion of the Company’s quarterly financial statement closing process. Actual results may differ significantly from the preliminary estimates.

The Company will host a conference call and audio webcast on Wednesday, September 5, 2012, at 10:00 A.M. CT, to discuss its earnings and operating performance for the quarter. The webcast will be available live at ir.Conns.com and will be archived for one year. Participants can join the call by dialing 877-754-5302 or 678-894-3020.

The Company will also be presenting at the 32nd Annual Canaccord Genuity Growth Conference in Boston, Massachusetts on Tuesday, August 14, 2012 at 10:00 A.M. ET. The presentation will be webcast and can be accessed via the following link: http://wsw.com/webcast/canaccord6/conn/. Additionally, the presentation will be available for replay for 90 days following the live presentation and will be accessible via the above link or through ir.Conns.com.

About Conn’s, Inc.

The Company is a specialty retailer currently operating 65 retail locations in Texas, Louisiana and Oklahoma: with 22 stores in the Houston area, 14 in the Dallas/Fort Worth Metroplex, seven in San Antonio, three in Austin, one in Waco, five in Southeast Texas, one in Corpus Christi, four in South Texas, six in Louisiana and two in Oklahoma. The Company’s primary product categories include:


Additionally, the Company offers a variety of products on a seasonal basis, including lawn and garden equipment, and continues to introduce additional product categories for the home to help respond to its customers' product needs and to increase same store sales. Unlike many of its competitors, the Company provides flexible in-house credit options for its customers, in addition to third-party financing programs and third-party rent-to-own payment plans. In the last three years, the Company financed, on average, approximately 61%, including down payments, of its retail sales under its in-house financing plan.

This press release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements include information concerning our future financial performance, business strategy, plans, goals and objectives. Statements containing the words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “should,” or the negative of such terms or other similar expressions are generally forward-looking in nature and not historical facts. Although we believe that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, we can give no assurance that such statements will prove to be correct. A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by our forward-looking statements including, but not limited to: general economic conditions impacting our customers or potential customers; our ability to continue existing or offer new customer financing programs; the success of our planned opening of new stores and the update of existing stores; technological and market developments, and sales trends for our major product offerings; our ability to fund our operations, capital expenditures, debt repayment and expansion from cash flows from operations, borrowings from our revolving credit facility, and proceeds from accessing debt or equity markets; and the other risks detailed from time-to-time in our SEC reports, including but not limited to, our Annual Report on Form 10-K for our fiscal year ended January 31, 2012 and our quarterly report on Form 10-Q for the quarter ended April 30, 2012. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, we are not obligated to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

CONN-F

CONTACT:
Conn’s, Inc., Beaumont
Chief Financial Officer
Brian Taylor (409) 832-1696 Ext. 3294
or
Investors:
S.M. Berger & Company
Andrew Berger (216) 464-6400