Mattress Firm Posts 20.8 Percent Increases in Q4
February 19, 2014,
HOUSTON-Mattress Firm logged identical sales increases of 20.8 percent for both its fourth quarter and fiscal year ending on Jan. 28, according to a statement on its preliminary results for both periods.
Net sales in the quarter totaled $312 million and included a same-store sales increase of 6.5 percent. For the fiscal year, net sales were $1.2 billion and included a 1.3 percent gain in same-store sales. Sales from new and acquired stores also bolstered the totals for both periods.
Steve Stagner, Mattress Firm's president and CEO, attributed the top-line gains to "our deliberate growth initiatives" and to the "relentless efforts of our sales force in the face of a tough consumer environment." Stagner acknowledged that, when all of the numbers are counted, earnings per share for the year will finish less than the company's expectations, which he attributed to the difficult consumer economy and unusually inclement weather in many of Mattress Firm's markets.
Other Articles By Author
HFN Launches Interactive Idea Book
HFN's DIGITAL EDITION
COVER STORY: HFN Turns 90
We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.
ALSO IN THIS ISSUE:
- Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
- Omnichannel Retailing - In the Mobile App World, Time is Money