Beaumont, Texas -- Conn's Inc. said Monday its first-quarter net income more than doubled, and the retailer raised its outlook for the year. The retailer earned $11.6 million for the three months ended April 30, compared with $4.4 million in the same period last year, which included some one-time costs for severance payments. Revenue increased 5% to $200.9 million from $192 million, as same-sales surged 17.8%. “Our current quarter results demonstrate the value we deliver to our customers with a broad range of high-quality products and a better shopping experience,” stated Theodore M. Wright, chairman and CEO. “We have
Theodore M. Wright
Beaumont, Texas -- Electronics and appliances retailer Conns announced Monday that its president and CEO Timothy L. Frank has resigned the company. Conns named Theodore M. Wright as the interim CEO and president, and has launched a search for a permanent replacement. Frank has led the company as president and CEO since June 2009; he has been president since April 2006, and previously served as COO and senior VP retail. Frank left to pursue other opportunities, the company said. Conn’s operates 76 retail locations in Texas, Louisiana and Oklahoma.