CONN - Earnings call transcript Q3 2022

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Operator

Good morning, and thank you for holding. Welcome to the Conn's, Inc. conference call to discuss earnings for the Fiscal Quarter Ended October 31 2021. My name is Melissa, and I will be operator for today.

During the presentation, all participants will be in a listen-only mode. you answer invited session. remarks, a participate speakers’ and question the will to be in After

XXXX market As being be at earnings X, ir.conns.com. recorded. reminder, accessed The distributed a this Investor company's release conference via the dated Relations and this morning, opened call company's is was may before website December

represent events. issued forward-looking beliefs During the adjusted actual Please adjusted call was and statements subject diluted the results you to share. certain for company net federal The refer statements which today. release meaning this present materially within the and securities those are management the today which earnings their cause discuss, earnings made GAAP expectations on of that measures. to other among of necessarily concerning measures will based call, the I reconciliation risks income today's financial must indicated measures, are or uncertainties company's from to these such forward-looking assumptions, remind statements future performance a to are of some company's cautions in comparable statements laws. per differ These that that could non-GAAP most

Chandra the the time, are Company's today speakers Ms. ahead. At over George I Bchara, Holt. the Your to and Company's would CEO; call like Holt, turn this CFO. to Please go

Chandra Holt

my in in financial very quarter the confidence joining Overall, of business review fiscal call which only the direction will Year company potential Conference performance, great offerings. our our results. Call. Earnings turning of especially the Quarter third outlook I'll third remainder in of differentiated our headed expanding fluid XXXX my belief a CEO and and I this reinforces call the had George morning, increased. enormous over Fiscal environment. Conn's and today's am with our digital payment to Since who before as Good impressive We in a has quarter Third is Conn’s the welcome for review August, our year start to retail, of and quarter, my model excitement business in proud the

third retail growth During over $X.XX accelerating earnings a to triple-digit XXX% earnings the year-over-year sales by per $XXX.X per retail prior favorable to to diluted share. momentum, share year-to-date and diluted increased credit performance. increased driven million sales e-commerce the increased year total and basis, have have $X.XX per On XX.X% quarter, share

strong shareholders. sustainable hard we and Our team results commitment our members work actions financial of value of the for create testament to pursuing are our a and are

quarter underway third of Retail quarter and in and success the a up exceeded second increasing X.X% expectations two On in growth increasing in X.X% quarter. our to accelerate first our quarter sales were compared basis, X.X%, attracting the the increasing over third the range our to business, the wider The sales rapid expansion same-store customers. XX.X% product demand categories prior our total same-store year year of continued a XX.X%. across fiscal e-commerce sales and demonstrates major

lapped the we growth fiscal sales. sales finance in all significant year as non-Conn’s payment retail options experienced fact, In we across even grew last

us At We year we support maintain items carried We sales to the availability are assortment XX% and also benefiting the of high level as to in-stock for new available we of day and pricing inventory. in-stock next from next differentiator made earlier a in our next faster a quarter increased was and decisions pace believe than the the enabled delivery. even attract were third position over day this a at XX, to XXXX, customers. delivery day October competitive

benefitting our the year’s proactive are successfully our issue. teams New continue to competitive managing the are business challenges results While demonstrates and global believe going continue will forward. through chain our expected into that We this Year, inventory position strategies supply

As freight expected, goods costs international elevated that were by cost sold. quarter of retail third gross pressured higher margins

great job do fluid to environment and assets. continues team managing Our optimizing this a distribution our domestic

Our dependency costs. member also us proprietary on allowed to approach reduce has

also diversifying increasing to our by support taking flexing our and promotions, assortments, margins reducing base, action prices. are sourcing our selectively We

While with increases values, along prudently closely conditions focused to mitigate remain to costs. categories to margins monitor will we we continue on market continue customers to providing and expect our across higher pass compelling and price

across category, growth. Looking our earlier assortment our retail prior category, strong national Dreamspot new our composed of we expansion, performance same-store brands from expectations Dreamspot. growth mattress pivoted broad in-stock in the was as is number categories. through and a to we our our growth e-commerce continue of first strong Sales options ensure our creative see Within mattress maintain consistent sales of double-digit brand year. category, prior a more furniture selling mattress one range in our favorable our sales to sourcing More dollars. at and driven quarter for In than appliance assortment same-store brand private-label day XX.X% actions flow over launched and and products units and our other customers. top have rapid leading to sales next increased position this and exceed year over continues both the third delivery our and year. Furniture remained detail, saw we the assortment product sales by XX.X% growth any increased sales

online segment the expanded increased year. success ultra lean our was picture prior our quality sizes. unit mattress in within sales in The the primarily premium addition, a category. box XX.X% driven assortment electronics screen as consumer by large TV and same-store This growth of is we In growth into the over category higher driving sales, our

are the rapid a as addition, our category headway benefiting online, from In growth. e-commerce penetrated TVs on

while the to on functionality of investments of result and started and the with and invest a significant sales our a create to the fiscal October track digital growth record the in to $XX.X ended of pricing we customer delivery a experience quarter been customer our best-in-class a in have increased to sales glove to our of year-over-year website frictionless next on quarter. TV we increase sales we online, day, believe we making as long-term With million million, Friday $XX.X e-commerce Black end leveraging opportunity perspective, experience are to $XX channel we conversion. e-commerce grow this Lastly, strong contributed sales believe e-commerce our From year-to-date continue XXX.X% We is white third e-commerce also capabilities. year. to e-commerce heavily a million with improve approximately

our believe retailers. new The we XXX quarter recently X.X% is third stores in locations new is and to total be added stores for of we retail coming in performance comparable I opened the opened pace We year. innings quarter. early XX openings e-commerce anticipate years encouraging in with stores Recently other next of contributing We are of performance also ended have our primarily we omni-channel growth. penetration to and sales transformation the the digital of our significantly increase growth accelerating to store stores The and can opened within our of the year-to-date the with Florida. State fiscal line

to beginning COVID-XX reflecting actions to throughout credit entered manage Turning XXXX trends March pandemic. the quarter took the in underlying with favorable third risk carefully segment. of we the successful We our credit

XX.X% quarter As a spread XX achieved third a over of result spread actions, of the credit years. in representing highest prudent we these

in-house represent since credit As our these sales. sales finance a shown occurred strategy, increased. on of customers Conn’s This percentage Slide credit have even optimizing quality in-house presentation, greater finance our XX higher investor of as has

ended the XXX quality these sales over XX, addition, January vintages vintages. finance In older for higher averaged year of credit credit score weighted has compared outperforming XXX quarters The past new are to average fiscal XXXX. origination the four

to pre-COVID our day Our levels. indicators remain has XX approach disciplined re-aged proactively below helped Both risk manage balances. delinquency well health portfolio of plus and

accounts the the The was of as to XX.X% was X.X%, fiscal percent portfolio, past to XX a for year. fiscal last compared same day for of balance last the a the percent of balance the period compared year. same plus portfolio XX.X% As XX.X% period due re-aged

charge-off on current we below will While strategy economic in quarters, believe coming enhanced levels credit and normalize trends the delinquency and we our outlook. based they to remain pre-COVID expect

believe well target approximately result, credit of points going a a forward. positioned are As XXXX basis we I to spread

pandemic sustainable for Conn’s you the can COVID-XX better As and see, has positioned stronger growth. from emerged

the Our during credit made refine lease-to-own segment reflects partners. strategy our transformation confidence our and the we pandemic to new credit in

and In focus finance across expanded customers payment all addition, is prime the larger through continued credit from years. lacked sales growth and our we encouraging sub-prime third-party growth driving card a retail is new prior as significant total especially market in cash, of have This fiscal prime, addressable options.

deliver uniquely have credit next quarter fact, last after positioned and navigate I the fiscal In believe third-party macro XX.X% environment current strong XX.X% and Conn’s retail year. Overall, fiscal the increased credit card the finance is year. third in quarter and cash, sales increasing to results third during

a history credit with our are as delinquency credit We reflected quarter entering over favorable as years, spread in best trends. well ten and performance fourth day in XX by plus re-age highest the the recent

enhanced strategy, spectrum. where remarks, credit customers us prepared segment demand and heading in growing retail because favorable retail the our strong put positioned place. consumer incremental in To regardless addition, of fall stable on Overall capture we In my to credit business. the strategies into trends credit third-party partners of relies and fourth more which remains our heavily well quarter our we reflecting the have allows they conclude are growth

created we believe is and creates to demonstrate value important an inflationary of flexible I unique we this that value strong the our powerful competitive are options navigate dynamic proposition In and retail We a the period. helps have credit navigate recent environment. addition, position customers providing component affordable our and advantage proposition. believe payment a current the better results and our

to inventory are growth e-commerce year-to-date fiscal deliver revenue third impressive earnings and performance, and on track growing this quarter record year. in-stock capabilities and are encouraging levels significant and robust we Our

next strategies our to early Investor and the aimed at the updating creating on in coming As financial More Houston at look announced an confident the future, sharing shareholders. I value forward growth am exciting forward look are direction. our in-person I in in for we enhanced strategic to and focused outlook details right our will remain on headed long-term year. weeks significant Day be plan we I investors

Finally, opportunity continued our members for to for support team service. I commitment Thank want you to and your use thank this steadfast to Conn’s. your

call me our the George to performance. financial let turn to Now, review over

George Bchara

strong quarter On positive position from last Thanks, fourth period per $X.XX for diluted into revenues diluted quarter, Chandra. business third $X.XX share reported net a to last the our headed the same consolidated the and our quarter. underway year. representing for by income of We fiscal a compared basis, of the period fiscal income encouraged year. per increase XX.X% million strong same net share, were the $XXX.X I total third am in momentum

the from same detail, our quarter last driven Higher third in Looking was total were segment and increase fiscal the sales at year. $XXX.X period for revenue an increase XX.X% store retail by revenues in a new million, retail same-store more of retail growth. XX.X%

credit card, we consumers credit as During fiscal wallet further we sales larger higher of which quarter down platform a Cash, XX.X% third by credit leveraged successfully spectrum. a capturing core our our the during Conn's integrated driven third was demographic XXXX. in than share increase achieved applicants by greater by the the amount finance credit year rather sales XX%, of quarter, quality sales of and and XX% increased of increase This approving a partners. third-party grew within lease-to-own

period the points retail sales sales financing to the SG&A expense helped gross basis in gross XX.X%, a We of higher third during from higher fiscal opportunities by Retail the of sales cost increased was impact margin believe across have driven offset retail year-over-year quarter of by primarily we increase margin leverage the decrease options. increase same of an our year. XXX The quarter. a products. decrease product continue partially result all last retail for was in as margin freight, Higher to

partially third the expenses year of retail $XX.X retail the fiscal to offset were period compared the same and for XX.X% operating million same to improved quarter higher last compared a segment income last $XX.X SG&A margin. fiscal by As operating million period gross percent sales, retail sales leverage, Retail for for lower was due year. to XX.X%

primarily charges $XX.X our of the quality improved were and a decline revenues due to in result The prudent portfolio actions balance de-risking reduction our part average quarter. finance for from other the March was third the period credit in XX.X% receivable segment, X.X% implementing the same last a year credit Turning in XXXX. the million began The we portfolio. has customer significantly to of of fiscal

quarter, at compared credit results the last portfolio of of continue third end Annualized performing same Our X% receivables net period that to the to portfolio show strong as charge-offs a well. our was the the balance is XX.X% average percent for year.

bad a $XX.X compared debt, lower in performance. compared segment the quarter, a to decline report same year-over-year period last $XX.X pleased was primarily last increase for million, lower the bad $X.X by is credit credit due I improvement was year. a quality, offset million, interest to am and quarter partially the million $X.X an due taxes. for was During our in segment charge-offs to greater loss consecutive of fiscal to The Credit taxes in million for lower profitable to which fiscal during in provision third the the income allowance. fourth improvements provision debts resulted expense, that this year, before credit income credit the before quarter,

volatility The higher of expenses achieving lapse was with pandemic. third new our portfolio portfolio grow, and on growth, points million. the long-term year sales growth As continue the reductions increase an were prior annual quarter Consolidated to cost begins due supporting SG&A operating while $XX.X stores additional due X,XXX advertising million variable limiting $XXX.X expenses period risk, prior credit from for as opportunity. focus we to will COVID-XX increase we a associated in approximately the basis our spread, to to and controlling

as of in balance our cash the quarter quarters, used of further portfolio. have from to sheet now a cash which cash customer strong capital in operating balance million Turning ended sales quarter balance strengthen and and finance has and on ended net to third to we over and the with the we seven million significant $XXX.X We receivables robust last flow position our collections reduce capital and growth end We sheet This year-over-year benefit debt the year. to our with third-party continue the past compared third meaningful debt, position. $XXX.X sheet. third quarter produced at

compared balance all-in X.X% we terms as lowest closed this since at market of further the debt year. of reflects rate of proceeds reentered XX.X% of in third XX.XX% the the our of of a end of XXXX the net $XXX.X and ending year. the percent to cost to advance end November, addition, last the XX.X% In the approximately well reentering quarter, XXXX. net into market. tenth the portfolio approximately in In declined transaction our at quarter ABS ABS third approximately funds believe we completing transaction, transaction highest The million, liquidity strengthens the since of resulted We A fiscal ABS of which position next

capital platform ABS far have and the efforts executing driven so to built strength to the de-risking initiatives. demonstrate and strong business proven our addition, continues growth pleased In in our ability with underlying I have am strengthening the sheet, experienced this our markets. year. sales success, we These our balance access momentum business our the

we full related the we Friday believe mid-teens believe full I product business year. availability the Black with earlier we which third capitalize these Starting as our positioned sales, the expect were start year. and well and for holiday some pricing, quarter. into head Before year call with to growth continue pulled for promotions our some to retail forward the want sales initial expectations open causing fiscal to thoughts marketing retail up combined and season, on sales same-store We trends questions, we early to into the review to concerns quarter to and provide fourth on our next

year-over-year, the other a For finance due we charges current expect customer be and receivables. balance to lower of revenues fiscal year, primarily to down

down supply XXX resulting XX XX gross points issues to quarter. related points in basis retail to margin XXX we in fourth to year full the retail chain, approximately ongoing expect margin to basis down be global the now Given being approximately gross the

in believe year to will by SG&A versus be as new anticipate fourth continue controls. portfolio primarily be to two We by our a basis to up driven expenses up tighter investments offset growth growth. prior largely is expected we be provision on year by The strategies stores, the driven cost quarter period, primarily continued

by allowance, of fourth a driven the in well economic benefited primarily fiscal provision reduction balance accounts deferral. in the quarter the reduction conditions, addition, of $XX approximately In year our million improved that received in as an last a from as COVID-XX

we look fluid environment. to economic year, expect despite positive we same-store a into As produce next sales,

in anticipate pace portfolio chain. we ongoing financing growth higher of fiscal store the and insight due be above the financial stores Retail Overall, also year, Conn’s impacts to XX and our excited the into next global sales strong under accelerating well in as targets operating supply reduction XXXX openings as early reserve I We the our will allowance. fiscal expect remain our We by long-term in-house expected this a year. the we more anticipate new we by plan to increase, next year’s XXXX, Investor of year driven primarily year. fiscal to headed. year economic expectations, are margins at Day provide primarily to We smaller of Conn’s are next and our from direction year open provision within next am gross to our another pressure for

I to service our continued my thanks work, want their to and hard members share Finally, all for dedication. team

questions. questions. are this and overview, the take happy up to open with So, to your Operator, I call please Chandra

Operator

Joseph from Our line comes Kyle of first with Please Instructions] the proceed with question your [Operator Jefferies. question.

Kyle Joseph

me having taking for on questions. Thanks guys. morning Good Hey. and my

of mix, financing prime consolidated to call the e-comm opportunity any or sort of see more, about think you do term, I that, could kind of e-comm. a follow-up sense longer two for then consolidated portfolio sales, Just does us can sales And any it, it think about you or on give But as how least-to-own sense the of you online? the goal have you growth as the post or percentage a you around talked e-comm Chandra, business. there. mirror us of give I the

Chandra Holt

Yes. for Good morning, Kyle. Thanks question. the

performance We see we invested you can we penetration categories. continue about do quarter that, e-commerce further other in drive believe retailers excited to standpoint in invest business we’ve that are do within that this delving and similar believe XXX% can growth is line and we to and from very opportunity a happening to and there with our almost that growth be our

similar We see bit From Conn’s do standpoint a in financing and to e-commerce a think a see business. a what is online But we that’s we standpoint, standpoint cash being payment higher see the smaller. is Synchrony upside we a there with So fairly significant a see what in little stores. similar little higher from in fairly bit standpoint what stores. from overall, a and we little a bit mix to

Kyle Joseph

And them visibility those as when I helpful. to in from as is know there and but outlook – it’s expect know hard uncertainty into of continuing and lot issues. of terms but you sort about would of you then, you pressures a Very just would one to predict, XXXX, supply ease? it. when Got to me, of to chain talked margin is pressure follow-up of growth any there I sort any expect

Chandra Holt

prepared do the as and we into said to do we for Yes. – remarks, continue We be freight a in next year. expect year international next rates headwind

a so foreseeable quite that to seeing it have We starting we when to anticipate future see and seeing will and back the sight a down. of a it’s a are do as increase little come headwind clear continuing normalize it to of we bit starting to and be don’t for but while for reduction line – are

Kyle Joseph

Great. much for questions. very my Thank you answering

Chandra Holt

Thanks, Kyle.

Operator

you. Thank

question comes your the Please Nelson Our line with Inc. proceed with Stephens question. next Rick of from

Rick Nelson

follow-up to Like morning. the provision Good guidance. on lot. a Thanks

believe provision ago, lower call are the half. weeks second guiding nine about in On the a XQ I to you

a higher Now drivers for what provision you on the are Curious quarter. are to there? the fourth guiding

George Bchara

is Good George. morning, Rick. This

fourth the this quarter versus with fairly you was driving quarter, allowance we is the of if So, mentioned we as look significant you this down our the my look year we see year, a in allowance the the last I in year-over-year that quarter if portfolio, year. an you the increase in at increase remind the provision a third about fourth we as in to the reduction also I benefited quarter last a remarks, in last now expectation. expecting that greater But in from which at year think consistent are would – – don’t year. prepared expect fourth the greater

Rick Nelson

like Okay. credit get your to I health you of some the Thank for on perspective that. would customer. just

that is this you with – crude, a a inflation sales a seeing or credit standpoint? higher are have Do We customer and gas of concerns rising. seeing necessities prices lot standpoint from any

Chandra Holt

. question. Yes. Good Yes

So, of And a right anticipation now in our adapt is we well. normalized to continue performing credit credit underwriting environment.

Page a on reduces look can the presentation, clearly customer of which higher you are volatility. we If X to credit underwriting you investor that quality see the

it quality basis reduces because We XXXX underwriting are higher volatility, spread, a underwriting the still to a of points we level. to but are

we feel in good credit. strategy about our So

I very thing beginning am are at thing stable is think other as running relates value about sales going a to the focus have but I you within on I to drive we utilizing a of and credit think more one Investor next our increasing excited it to modern year, versus will the the drive risk sales. sales, business the to Day us credit proposition that see

George Bchara

at we long position I TDR where are down delinquencies. Rick, in been as you would – The percentage add today, down is in the look that, that, if a significantly health XX percent we thing good year-over-year, re-age portfolio day a time only is to as and

pandemic a position. positioned are the standpoint So, really of or good heading we heading sheet in into out balance a from

Rick Nelson

for that. on sales the quarter trend. Thanks Great. follow-up to Also fourth like

same-store the pull you the talk sales what – holiday You quarter? about are in tracking mentioned some forward. a Can

Chandra Holt

into Yes quarter. . Demand remained fourth strong the

full in-stock we our for guidance and seems our in we’ll the that ability year confident And deliver achievable. to work QX. that us position set much proposition so up strong So, success deliver our our value And very for has are continues QX. to sales

Rick Nelson

good and luck. Thanks Very a Okay. lot good.

George Bchara

Rick. Thanks,

Chandra Holt

Thank you.

Operator

you. Thank

question. Capital comes of with Thomas your Our line Brad KeyBanc proceed next question with Please from Markets. the

Brad Thomas

question the on you Hi, and follow-up e-commerce time might dovetailing bit Good you be touched place? get to Wanted more about Conn’s, investments off if in with momentum under a I e-commerce strong earlier look on could talk you more here to help George. as Chandra, have belts just wondering necessary you you and was an help your business Chandra that little if feel that like think And might that the what in the XQ? or has like growth that to growth accelerate accelerate timeline morning.

Chandra Holt

Yes. Yes. question. Great

different look back-end So, of the look got and e-commerce from the and a when I our that the we two when upon delivery. business, I at segments e-commerce kind tarred got very the chain you’ve the you’ve the I front-end, supply at the customer-facing website with standpoint. are strong And back-end already business,

which it next advantage that the a get at have competitively, white over glove have And you QX, sell. in-stock our we have available We customers us. end to very big that And position us to of for XX% day. was of delivery, that We day, next strong compare when items is in the unique QX. we could

when do have, big and you around the shipping From a of growth that the our really look where feel supply to is we and now. forward. pricing, and good are – continue three really average thing to which the front-end invested of is And components. value in chain at we shipping there chain conversion work functionality pricing. and So component standpoint and improving replicate on opportunity to a I we’ve to that supply website, going focusing invest about driving two have functionality, and It’s right is utilize is retail our the is what’s we that there a you do already speed lot our ability traffic, around it’s site the is in or conversion order conversion website,

So, to we to in. all invest to we business need to the continue continue do and know things that the drive we’ll

are in stages of our transformation. the early We

had we X% penetration. over So,

we go of So a lot but the upside to ways future. have for

Brad Thomas

anything mathematically face might imply Thank And follow-up and comp George, if significantly question decelerates your its to mid-teens any a get I year. the are Chandra. things to you. Rick’s there could that seeing out? how fourth value to you the X% able just expecting to them get are the XX% helpful, tracking take the or color are it the to slowdown fourth of Is the you quarter. be fourth be full the would guidance share pretty to it quarter If comp you’d would be you we about just about? growth play quarter and level for suggest on more Really year, in for that How at

George Bchara

I strong. saw from somewhat sales strong the than I prepared the anticipating positioned certainly that think, in we results. was December third for as this the but a It November third was and my and mean, are winning for less and than standpoint. slower I remarks, the along that holiday season just trends quarter, an ourselves quarter that we as we mentioned quarter the with October year quarter fourth will earlier result that a in strong in reflected third benefits in was

Brad Thomas

growth broad think year? as SG&A help think And play strokes with Yes. out as us just about George, one That’s helpful. may how next me, for work about for we any then, from last we you XXXX, could

George Bchara

next out year, didn’t We guidance Brad. put full for

able investing mean, on said with growth the So, And the in that next to are continuing be year, I in the to in before. I stores, new think but people focus that SG&A. right we should of leverage we we business investing place, think we’ve

Brad Thomas

you Thank luck helpful. much holiday. all and Very this good so

George Bchara

Brad. Thanks,

Operator

you. Thank

& your Company. from Our question. proceed Oppenheimer of with line comes next with question Brian Please Nagel the

Brian Nagel

taking questions. Thanks my morning. good Hi, for

George Bchara

Good morning.

Brian Nagel

a holiday first demand. question, the the just comments to It’s question on pull So, forward in Brad’s there. follow-up in just the with regard

Are holiday categories this nature within your different relative mix, we plan their more probably to merchandize are store, impact your there across trends to holiday are depending categories look try recognizing you forward, to on pull demand? size different as that seeing this, seeing As you and of – you the certain purchases others.

Chandra Holt

Yes.

So, you look and if the happened in overall, at acceleration we an quarter. what saw through QX, so

So, comp, XX.X%. XX.X% October then September, was a a XX.X% and August, we posted

that did went categories of than were And that, a within consumer lift at So right far sensitive drove year. than the saw we what you holiday drive a more TV October, are on categories, did were October. saw it have that last Black big larger greater which did that acceleration later, the out other year but electronics, categories items last when – the and this specifically in the you in Friday pricing look went year are that you sale little earlier bit breadth some

holiday-sensitive But in greater So, October categories. than more categories an others. October overall, we a saw across there increase were some we acceleration in that saw

Brian Nagel

a Then the the you with obviously not headwinds in regard this freight to that freight costs, margins talked quarter. I being second probably progressing The fourth – talked is but nearer is, cost, continued question helpful. question headwind headwind XQ offset or and see That’s to about you this of and unique importantly, term have, to costs? how gross once the do there help and pull Conn’s you levers George, about to are more guess, these to manage some a can I in

Chandra Holt

Yes.

we to the will said, to believe we we very that international continue can. team headwind working to freight the as much But margin. mitigate cost as as a hard So, be is

given passing sourcing as prudently can, we increases So, chain, conditions. both feel as the as as activities, within on as market we price supply utilization that our well well the

deliver and leverage. continuing We with are growth, the balancing all of so along we can that ultimately margin drive try leverage operating to SG&A to

as a their and the of customer team the of center believe decisions, fluid is keeping well making and that shareholder but environment, there the puts I It’s the run. in So, further takes. business at decisions the is the that lot do a long as

Brian Nagel

I you. Thank it. appreciate Great.

Operator

to Thank floor and answer for session. our you. final that Holt turn the Ladies Ms. any back concludes I’ll comments. and gentlemen, question

Chandra Holt

interest to to forward look Investor want everyone time and season Conn’s. And holiday with everyone just your at Day I lastly, I New thank wish a our today Houston in Thank for happy and to in speaking you. Year. next wanted happy a everyone early I year.

Operator

conference. Thank you. today’s This concludes

participation. this lines You may at your Thank time. disconnect your you for

Conns (CONNQ) 7 Dec 212022 Q3 Earnings call transcript