Consumer Rebound? Not Yet. (At Least, Not In Texas.)

There was a telling bit of news on the continued travails of the U.S. consumer today from a small Texas retail chain called Conn’s (CONN). (In general, I would say calling a retailer “Conn’s” is not something I would recommend. But I digress.)

Conn’s sells consumer electronics, home appliances, furniture, mattresses, computers and lawn and garden products in 75 stores in Texas, Louisiana and Oklahoma. And according to a statement from the company this morning, this is not an ideal time to be in that particular line of business.

“Economic conditions in the company’s markets have deteriorated significantly during the current year,” the company warned, citing a rise in the Texas jobless rate to 8 percent in August 2009 from 5.6 percent in December and 5 percent in August 2008. “As a result, the Company’s sales and credit portfolio performance have been adversely impacted.”

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