RTTNews | Jun 3, 2021 07:00AM EDT

06:59 Thursday, June 3, 2021 (RTTNews.com) - Shares of specialty retailer Conn's, Inc. (CONN) are up more than 10% in pre-market trade on Thursday after reporting upbeat first-quarter results.

The company reported net earnings of $45.4 million, or $1.52 per share in the first quarter compared with net loss $56.2 million, or $1.95 per share during the same quarter a year ago, driven primarily by more than 25% growth in retail revenue.

Excluding items, earnings were $1.55 per share. Analysts surveyed by Thomson Reuters had expected earnings of $0.3 per share.

Net sales for the quarter increased to $363.7 million from $317.16 million last year. The consensus estimate was for $293.77 million.

The company said its same store sales for the quarter increased 19.4% year-over-year.

"Throughout fiscal year 2022, we are focused on building on the positive momentum underway and pursuing our strategic initiatives, which include increasing retail sales across our best-in-class financing options, executing on our digital transformation, and expanding our brick-and-mortar footprint," stated Norm Miller, Conn's Chairman and Chief Executive Officer.

CONN closed Wednesday's trade at $24.01, up 0.5%. The stock is currently at $26.50.

Read the original article on RTTNews ( https://www.rttnews.com/3199674/stock-alert-conn-s-jumps-10-in-pre-market-after-reporting-q1-profit-above-estimates.aspx)

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