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Post by maxi on Apr 10, 2012 19:15:26 GMT -5
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Post by maxi on Apr 10, 2012 19:19:16 GMT -5
news.investors.com/article/607322/201204101847/mattress-firm-retailer-q1-earnings-jump.htm?ven=yahoocp,yahoo Bedtime Story: Mattress Firm IPO's Q1 Profit Springs By KEVIN HARLIN, INVESTOR'S BUSINESS DAILY Posted 06:47 PM ET Email Print License Comment inShare Mattress store chain Mattress Firm Holding (MFRM) surged past forecasts, citing growing brand awareness, and a pent-up demand among austerity-weary customers. The company said it earned 56 cents per share in the fourth quarter, from a 7-cent loss a year ago. Analysts had forecast earnings of 19 cents, stripping out one-time and special items. It wasn't immediately clear whether those figures were comparable. Sales surged 48% to $188.6 million, beating analyst forecasts. And sales at stores open more than a year jumped 24.8%. Mattress Firm sees EPS of $1.40-$1.48 this fiscal year vs. analyst forecasts for $1.37. Shares slid 4.7% in advance of the earnings, closing at 37.43. After hours, they surged more than 13%. Mattress Firm came public in November at 19. "We are encouraged by the consistent sales increases reported by the bedding industry as we believe pent-up consumer demand and product innovations are driving customers into the market," Steve Stagner, Mattress Firm's CEO, said in a statement. The company leveraged the rising sales per store to lower occupancy and operating costs, boosting its gross profit margin to 40.2%, from 36.9%. It opened 41 stores in the quarter and acquired 55 when it bought the Mattress Giant chain. It closed seven stores, bringing its total count to 729 as of Jan. 31. The Houston-based chain carries top mattress brands, including pricey specialty mattresses from Sealy (ZZ), Serta and pricey specialty mattresses from Tempur-Pedic International (TPX). Tempur-Pedic reports first-quarter results next Thursday. Rival mattress maker and seller Select Comfort (SCSS) reports earnings next Wednesday. Both Tempur-Pedic and Select Comfort have climbing Relative Strength lines, indicating that they're outperforming the broader S&P 500. Both also sport top-tier 99 Composite Ratings. Tempur-Pedic and Select Comfort shares rose modestly in late trading.
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Post by natsalilfly on Apr 10, 2012 20:37:59 GMT -5
Are you recommending we begin stuffing our cash into mattresses?  |
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