UPDATE 2-Conn's ups Q4 view on strong sales, credit portfolio

jueves 19 de febrero de 2009 17:45 CET

* Sees Q4 profit above Street

* Consumer electronics sales strong

* Strenghtening credit portfolio

* Shares rise as much as 12 pct

(Recasts; adds analyst comment, share movement)

By Dhanya Skariachan

BANGALORE, Feb 19 (Reuters) - Retailer Conn's Inc (CONN.O: Cotización) raised its fourth-quarter profit forecast as it saw strong demand for consumer electronic goods in its key Texas market and a recovery in its credit portfolio, which was hurt by Hurricanes Gustav and Ike, sending its shares up as much as 12 percent.

The Beaumont, Texas-based retailer of home appliances and consumer electronics has benefitted from giving customers flexible options to buy products on credit and operating stores in areas that have not been hit hard by the U.S. economic slump.

"They're predominantly located in Texas, which has been cited as one of the top two state economies in the country," Hudson Square Research analyst Scott Tilghman said by phone.   Continuación...