Conn's, Inc. (CONN), a specialty retailer of home goods, reported Thursday that its fourth-quarter net income was $43.3 million or $1.75 per share, compared to last year's net loss of $42.8 million or $1.79 per share.
Adjusted net loss was $31.0 million or $1.25 per share, compared to adjusted net loss of $36.7 million or $1.53 per share a year earlier.
Total consolidated revenue increased 9.3 percent to $366.08 million from prior year's $334.88 million. Total net sales grew 8.6 percent to $293.69 million.
The Badcock transaction, which closed on December 18, 2023, contributed $68.4 million to total consolidated revenue.
Looking ahead, Norm Miller, President and Chief Executive Officer, said, "While we expect the macro-environment to remain challenging throughout our fiscal year 2025, I am confident that the Badcock transaction, combined with existing strategic initiatives underway, will position us to emerge stronger and more resilient than ever before. As a result, we expect to experience year-over-year improvements in both retail sales and profitability throughout fiscal year 2025."
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