Conn's Inc., a regional consumer electronics retailer, said Tuesday a key sales comparison fell 31.7 percent in the 4th quarter, hurt by the weak economy, lower demand and also tough comparisons from a year ago related to weather.
Total revenue for the quarter ended Jan.31 fell 30 percent to $171 million.
Results were hurt by the weak economy and tough comparisons from a year ago, which had unusual sales as people prepared for hurricanes and also the closing of Circuit City stores.
Tighter standards for store credit cards also hurt results.
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Sales of consumer electronics fell 39 percent to $67.6 million, hurt by lower demand or flat-panel televisions and lower average selling prices.
Home appliance sales fell 22 percent to $41 million.
Fiscal year sales fell 10 percent to $722.8 million.
Company hares fell 12 percent to $4.71 Tuesday.