Good credit on year to up we XX.X% strong year from the of our call earnings have income This reflects months the be quarter retail call. with third retail Through and margin. fiscal second represents segment. conference operating results. welcome and financial years additional highest best increase Conn’s the fiscal XXXX, shaping fiscal profitability one and growing begin the the XXXX in an operating with which achieved, comments prior nine-month also gross income million, year Lee XXX-year of remarks credit nine our of year and first will both history. $XXX.X I’ll prepared ever overview spread increases then XXXX was an complete is operating Conn’s the the period Fiscal with of and to morning in
have and of is achieved fiscal highest operating XX.X% first year credits we consolidated before for margin the years. fiscal Our was the and XXXX, margin charges in operating five nine months
Our as we implemented sales. strategies that results we to now X,XXX we well intended their highly With results credit are third on store our compelling approaches positive capitalize long-term and strong our demonstrate place, differentiated and a a have foundation quarter profitable same towards points strategy. in the positioned spread progress are growth achieving basis
in growth a invested So, execute operations, indicator retail with powerful believe this the business. when our let’s created use third retail pleased retail best by with quarter more initiatives market with our performance to to hurricane. the improve starting margins, retail impacted retail our introduction, our the our the look and am in of trend our trends during I performance. at overall is sales improved the Throughout we have to quarters detail retail platform and retail underway transformation, successfully same-store opportunity. analyzing We results non-Harvey
and store As and increase same sales included a X.X% the us a performance pleased am slide includes encourage confidence comment This X.X%. highest for sales Non-Harvey retail decline that performance the store market. I in which slide a of store our up the I represents level month strategies over our for store fiscal grow report in X.X% on same November sales this sales a analyst the same sales sales and month the are to as traction. gives non-Harvey underway of to the gaining market. on November, years the drove four strong monthly for same of in total in underway non-Harvey momentum were Harvey result, our retail Harvey I store in in sales presentation the posted review increasing this store markets category morning that segment. within on same by investors website same to our November
initial benefits TV in drove and the demonstrates which in basis our sales consumer merchandizing prefer. XXX category, in non-Harvey addition, from sales growth. of our higher large-screen points customers In strategy the TV sales November same-store markets demand newness November the
sales positive our our total markets expect positive X% in to non-Harvey X% For to flat range and X%. from positive the fourth to same-store from we range quarter, same-store to sales
Our our and guidance offset our from of the lapping from retail comparison potentially new tougher pulled continued reflects forward marketing and by contribution the product of growth Harvey the benefit and January demand Hurricane offering including strategy, improved campaign, rebuilding. December
believe in fiscal point drive being X.X%, in benefit for of the the the growth, last X.X% important fiscal third potential in in quarter quarter markets our an the XXXX, to After we rebuilding opportunities were Harvey and year XXXX year. our third the of Hurricane we’re second excited Hurricane up this same-store lot while fiscal in our a and fourth due non-Harvey sales of inflection X.X%. during quarter, important declined to results, during primarily were about reaching markets down sales third are quarter down retail have XX.X% efforts many significant year retail Total Total We quarter quarter. the we only Harvey same-store performance. retail improvements masked had
refresh, sales of us third were is XXXX. In within category. in X.X% In sales produced sales rates, sales category of three year during quarters category. consumer same-store aligned the to sales since paying while the assortment to this fit after preferences. reported stores markets, utilization this encouraged second Home year a our implemented straight non-Harvey included gaming Not Our And same-store in implemented we further better, strength the it also the sales. up strategy third completed and an and positive same-store line even with full creating only home revamping the home is retail quarter driver positive category total quarter the more helping customer markets, non-Harvey in this fiscal have better quarter. this office the XX.X% within customer positive within products building assortment successfully office initial category. customer of plans we product markets the off. in and I’m this to same-store fiscal improve trend offering non-Harvey category by a also This we the review to this appliance demonstrating same-store have office category, best important produce continues up Momentum consecutive XXXX, were improved electronics is second has in for the same-store for gaming decision is performance quarter we consecutive experience. increase home is as our reenter holiday our season, of our
optimize the a the marketing largest performance sales fiscal are for produce excited merchandising all with fully retail trends same-store category. November believe improvement strategies year and are positive retail these to of experienced While we quarter but the of trends, assortment X% headed underway the stabilizing furniture and strategies year opportunity hold. We We XXXX. our third are enhance improve believe decline that our the are several strategies annual to execution take non-Harvey improve the starting XXXX, we mattress fiscal are by It will direction. to right effort, same-store implemented, during category until sales in quarters markets demonstrates more in combined will take and these
November’s engagement Chief thorough of increasing with our After more of his So of that a review awareness, comprehensive and effectively creating our base. campaign, These new team of Marketing some engage performance. focused the initiatives all drivers strategy, we performance strategy marketing these Officer actions and markets. resonating overview, at new included with our across new our a improving compelling the customer brand customers. believe let’s we fourth advertising framework initial of creation quarter, customer and are our are a review a and the with our to on In of this our launched demonstrates marketing look brand our
within our we we drive stores have offerings, have focused strategy. and to promotions into better, our merchandising in best right combined to our push with proactively the website, sure on traffic we that As stores compelling product our more making fit
this we to premium fiscal with and our upgraded assortment higher-end shifted appliances, TV we year, selection larger-screen premium example, smart have artificial features. capability. our sizes capacity, home emphasize to with other technology larger and even In intelligence technologies models, For
believe major and launched to in of furniture are this home stools bar Within category, We across business. assortment complementary our assortment important over this sales several wall there our products, such drive accessories to the opportunities next new expand chain. additional and update have we to all high-margin quarters. our categories across a includes art, continue that improve product This as
in dining. We also bedroom offerings are working on to our our update furniture upholstery, largest of programs categories and
These The arriving recent updates will furniture group in second the completed weeks. largely year XXXX. quarter of be end of fiscal of by first wave new started
to with increased to retail The initiatives third quarter retail platform with to sales the quarter third partner average made highest represented improvements former ever I’m with quarterly during headed. the our pleased execution, the we our lease-to-own the of percent partner. we historic direction our points third-party and the from the we basis and lease-to-own is approximately have is retail XXX Turning during drive new experienced X% higher level and than achieved
has goal, attainable. will believe that between narrowed performance XX.X% bottom-performing second in XXXX and and in year the it progress the to While pleased quarter get segment, XX% district and take I’m of the fiscal Retail of the to our is from making top-performing third to continue our goal still XX.X% quarter. with we’re oversight assuming the responsibilities sometime Since this to temporarily the
X.X%, performance of compared three down districts the our X.X%. average bottom the districts, of up quarter, sales During approximately three to districts, this excluding was approximately average our top which was Harvey-impacted same-store
new future important an growth plan is Our growth. store for driver
open third store quarter includes quarter. the seven fiscal during XXXX, Virginia will During stores current new we This additional stores. a in and opened of the opened year in an total three Virginia
in expansion better of with expectation, new revenues credit model tailwind a stores as recurring increasing experience a us in build base and we to expect customers. sales, in new are manage New risk, confidence provides while slower our our to stores sales With ramp place, our providing store line retail which with will credit performance a plan. enhanced credit
to XXXX We fiscal and state now next plan stores of existing have we XX open lower-end open number year also stores the year. new in plan new in to of XX fiscal to the increased
store new our and strategy fiscal As a sales growth the store growth coming and an and of year by features we enhanced and this in quarters. This forward plan part have the new and launch process. details Baton of more layout updated research, of in recently excited efficient developed and to look potential customer extensive will after sharing layout customer market I’m future store the more Rouge concept. our experience new
in credit our consistent same-store turnaround confident, sales positive future. single-digit quarter, retail Retail segment with low near As with I’m growth platform And our our grow stronger. passing the can each produce
$X.X of So This during trends for year. same $X.X year result and loss operating of operating million, portfolio quarter income composition. for income. million look quarter the to segment consecutive favorable positive segment period now let’s This the Credit improving was quarter. at last third credit performance an third fiscal compared fiscal our credit XXXX was improvement credit of the a is operating
For last the same XXXX nine-month to for the loss period. the income nine-month operating was credit year the fiscal XXXX credit period, segment year, operating of an income $X.X operating segment fiscal million, million compared $XX.X strongest year period fiscal representing since
In spread the in to and credit $XX.X closing basis year. $XX.X to fiscal same the on fiscal third target. the XXXX, For million credit for period prior million third spread compared to our we last quarter quarter dollar year year XXX compared basis in XXXX, period XXX points X,XXX-basis was points, terms fiscal point of of our year the the fiscal are in increased
of in the a quarter, fees months. result yield XX% XX performance. as that of are and XX.X% X.X% I portfolio, the portfolio was higher year net am This our consecutive including our quarter a level entire in improvement nine to third XX% originations were of charge-off XXXX, already period the report XXXX. are XX% from declined points record year increase the pleased delinquency fiscal XX-plus prior net to that third declined better of record day our fiscal will we the $XX yield, interest For nearly X.X% within drove goal for million, interest rate third point representing from basis an year XXX-basis year year-over-year. a fiscal fiscal the Segments and confident that a the quarter of income third rate to current the last our at in producing quarter which rate quarter be and fifth
accounts, XXXX. re-aged at Looking to at balance re-aged XXXX outstanding October accounts, of percent increased XX, the from the at XX.X% July total XX.X% XX,
resulting remaining reflects balances, that re-aged As day lower subset in in fifth for of this of trend, the are longer, which The quality execution re-aged a XX-plus delinquency the underwriting was improved a been portfolio result for balances lower TDR quarter of also the rate and but collections account year-over-year. charge-offs. delinquencies higher consecutive balances have and
XX not TDR, fiscal accounts the XXXX, being classified to compared last XXX rate the third delinquency all year period as months points was For better the quarter of basis of after re-aged in accounts year. fiscal same
Additionally, re-aging, points re-aging in of compared XXXX, current accounts quarter by decreased brought by year-over-year. percent fiscal delinquency the XXX brought the from without current third year basis to accounts of
the implemented With fiscal the re-aged caused of would re-aged years and enhance in higher interest of to compared levels. longer, balance have to programs the remain improving simply a at result accounts balances increase. charge-off rates TDR prior also accounts Higher when yield as quality these to portfolio
point average balance over percent year. million declined also It’s of a quarter. or XXX-basis Looking were net same fiscal the at compared note last to quarter, charge-offs the period credit that $X.X a as losses, important prior improvement XX.X% this year annualized the fiscal XX.X%, charge-offs outstanding to
robust in strategy is process stated dollars. to off opportunity we develop made The table. we reducing calls, losses investments to our a as and vintages to recovery have static by we in As continue successfully accounts have shown infrastructure convert our loss previous and recovery charged-off pay older a to meaningful
parts and Year-to-date, trends doubling collected with last these we stream zero of partners. payments almost of as recovery $X.X one build million process, recovery, from recovery began to with collected of fiscal during for third and balances. will $XX.X largest away through vintages the the our vendors quarter the expect help origination We we have low We period various third-party utilized same transitioning the million continue go our or year.
process run We are believe recovery expected produce another implementing additional two we to recovery quarter of take partners they the or in and our rate. will
temporary million be $XX represents XXXX compared year compare improvement million. a in $XX in a favorably prior will recoveries will million fiscal anticipate earlier least which fiscal result, impact, year, $XX recoveries to Despite we our As year million, to XXXX this approximately XX% of expectation $XX.X to year-over-year. fiscal the at
favorable credit better performance quarter results operating demonstrate to continue trend. third credit Our and
the nine X,XXX-basis goal a point We achieve proactively our over With months. retail foundation appropriate well-run place, to credit are support have compelling credit a a spread and well-positioned of to growth in we next are credit operation controlling the risk opportunity.
remarks Lee, year-to-date the our results call my to fiscal third business. strength conclude the quarter So, prepared the to our and before I model of demonstrate turn over financial of and positive revolution
the as fiscal retail successful the strongest credit ago year. on to created this are I maximize almost have well-positioned Our finish transformation since with company to the we our X.X performance out and investments came years combined the we way foundation
As same growth new coupled we year, plan we our retail with to for expect improving XX HomePlus next locations. stronger XX by store driven fiscal sales Conn’s
this and we goal. with are making model retail XX% to towards growth to this forward controlled sales turn X% and the annual have and growth let passing fiscal note call believe credit opportunities we to over each me achieving in our to consistently year on a progress Lee. continue ending can retail drive We I to the the support strong of With total future. look platform quarter, meaningful this,
