Conn’s, Inc. Reports February 2016 Sales and Delinquency Data

THE WOODLANDS, Texas–(BUSINESS WIRE)–Conn’s, Inc. (NASDAQ:CONN), a specialty retailer of furniture,
mattresses, home appliances, consumer electronics and provider of
consumer credit, today reported $108.8 million in total retail net sales
for the month ended February 29, 2016, a 13.9% increase compared to the
same prior year period.

The following table presents the Company’s percentage change in same
store sales for the month ended February 29, 2016, compared to the same
prior-year periods, and the 60-plus day delinquency rate as of February
29, 2016:

Norm Miller, Conn’s Chief Executive Officer and President, commented,
“During February, sales growth was led by furniture as we continue
focusing on the strategic expansion of the assortment. Same store sales
increased 12.2% in the Furniture and mattress category. Excluding the
impact of our decision to exit video game products, digital cameras, and
certain tablets, overall same store sales increased 5.2% for February.

“Same store sales for the month benefited by about 4% due to the extra
day in February of this year. As expected, we also received a boost from
the timing of the Super Bowl, which shifted sales into the first week of
February this year. These were partially offset by refinements in our
underwriting implemented during the fourth quarter. Sales performance in
our markets with greater oil industry concentration was consistent with
what we experienced during the fourth quarter of fiscal 2016.

“Greater than 60-day delinquency was 9.3% as of February 29, 2016, a
sequential decrease from 9.9% as of January 31, 2016, and compared to
9.2% as of February 28, 2015.”

All of the above February 29, 2016 amounts are preliminary estimates and
are subject to change upon completion of the Company’s financial
statement closing process. The Company has provided monthly same store
sales, portfolio balance and 60-plus day delinquency rate data for all
monthly periods since and including February 2012 on its investor
relations website at ir.conns.com.

Conn’s expects to release March sales and delinquency data on April 7,
2016.

About Conn’s, Inc.

Conn’s is a specialty retailer currently operating approximately 100
retail locations in Arizona, Colorado, Georgia, Louisiana, Mississippi,
Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee
and Texas. The Company’s primary product categories include:

• Furniture and mattress, including furniture and related accessories
  for the living room, dining room and bedroom, as well as both
  traditional and specialty mattresses;
• Home appliance, including refrigerators, freezers, washers, dryers,
  dishwashers and ranges;
• Consumer electronics, including LCD, LED, 3-D and Ultra HD
  televisions, Blu-ray players, home theater and portable audio
  equipment; and
• Home office, including computers, printers and accessories.

Additionally, Conn’s offers a variety of products on a seasonal basis.
Unlike many of its competitors, Conn’s provides flexible in-house credit
options for its customers in addition to third-party financing programs
and third-party rent-to-own payment plans.

This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 that
involve risks and uncertainties. Such forward-looking statements include
information concerning the Company’s future financial performance,
business strategy, plans, goals and objectives. Statements containing
the words “anticipate,” “believe,” “could,” “estimate,” “expect,”
“intend,” “may,” “plan,” “project,” “should,” or the negative of such
terms or other similar expressions are generally forward-looking in
nature and not historical facts. We can give no assurance that such
statements will prove to be correct, and actual results may differ
materially. A wide variety of potential risks, uncertainties, and other
factors could materially affect the Company’s ability to achieve the
results either expressed or implied by the Company’s forward-looking
statements including, but not limited to: general economic conditions
impacting the Company’s customers or potential customers; the Company’s
ability to execute periodic securitizations of future originated
customer loans including the sale of any remaining residual equity on
favorable terms; the Company’s ability to continue existing customer
financing programs or to offer new customer financing programs; changes
in the delinquency status of the Company’s credit portfolio; unfavorable
developments in ongoing litigation; increased regulatory oversight;
higher than anticipated net charge-offs in the credit portfolio; the
success of the Company’s planned opening of new stores; technological
and market developments and sales trends for the Company’s major product
offerings; the Company’s ability to protect against cyber-attacks or
data security breaches and to protect the integrity and security of
individually identifiable data of the Company’s customers and employees;
the Company’s ability to fund its operations, capital expenditures, debt
repayment and expansion from cash flows from operations, borrowings from
the Company’s revolving credit facility, and proceeds from accessing
debt or equity markets; the ability to continue the repurchase program;
and other risks detailed in the Company’s most recent SEC reports,
including but not limited to, the Company’s Annual Report on Form 10-K
and the Company’s Quarterly Reports on Forms 10-Q and 10-Q/A and Current
Reports on Form 8-K. If one or more of these or other risks or
uncertainties materialize (or the consequences of such a development
changes), or should our underlying assumptions prove incorrect, actual
outcomes may vary materially from those reflected in our forward-looking
statements. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. We disclaim any intention or obligation to update
publicly or revise such statements, whether as a result of new
information, future events or otherwise. All forward-looking statements
attributable to us, or to persons acting on our behalf, are expressly
qualified in their entirety by these cautionary statements.

The Company makes available in the investor relations section of its
website at ir.conns.com updated monthly reports to the holders of its
asset-backed notes. This information reflects the performance of the
securitized portfolio only, in contrast to the financial statements
contained herein, which reflect the performance of all of the Company’s
outstanding receivables, including those originated subsequent to those
included in the securitized portfolio. The website and the information
contained on our website are not incorporated in this or any other
document filed with the SEC.

CONN-G

Contacts

S.M. Berger & Company
Andrew Berger, (216) 464-6400