Why Conn's Stock Jumped Today
Shares of Conn's (NASDAQ: CONN) were up 12% as of 10:05 a.m. ET on Tuesday after the retailer reported earnings results for the third quarter. However, Conn's is still struggling in this environment, with sales down year over year.
The stock is likely responding to the new CEO's plan to improve the company's financials. Year to date, Conn's has fallen 59% over weak operating performance amid an uncertainty backdrop for consumer spending.
Conn's continues to struggle to gain traction with customers. Sales fell 21% over the year-ago quarter, coming in at $321 million, which was less than the $326 million analysts expected.
Source Fool.com
