Conn's furniture, bed sales up 31.7%

Furniture Today Staff -- Furniture Today, November 12, 2012

THE WOODLANDS, Texas - Retailer Conn's said its furniture and bedding sales jumped 31.7% in the quarter ended Oct. 31 as the company continued to heavily promote the categories and focus on higher-end goods.
     In a preliminary sales report issued Thursday, the retailer said furniture and bedding sales totaled $32.3 million in the quarter, up from $24.6 million in the same quarter last year.
     The categories represented 19.3% of Conn's total estimated sales of $167.3 million in the most recent quarter. In last year's third quarter, furniture and bedding made up 15.9% of total sales.
     In the most recent quarter, the company said furniture same-store unit sales increased 16.4%, and the average sales price rose 15.2%.
     The average mattress selling price, meanwhile, shot up 41.6% on a 5.4% decline in unit volume.
     Conn's largest category, appliances, had a 3.2% sales increase, while sales of consumer electronics, the second largest, fell 6%. Sales of home office products, which include computers, printers and related accessories, rose 22.1%.
     Conn's said it will release complete financial results for the quarter on Dec. 3.