Mattress Firm Holding Corp. (NASDAQ: MFRM) is tanking after its lower annual guidance for 2012. The bed bugs are back in this mattress retailer’s stock. This is pretty sad when you consider that net sales grew by more than 50%. The adjusted earnings were $0.47 EPS and revenue was $277.4 million. Thomson Reuters had estimates of $0.46 EPS and $271.59 million in sales.
The company said that comparable-store sales growth was 6.6% and its company-operated stores increased to 1,011. As far as the disappointment, Mattress Firm blamed lower ticket sales and lower traffic growth.
Revenue is being adjusted slightly lower for its fiscal 2012 period, from $1.022B to $1.039B down to a new range of $1.01B to $1.015B. The big drop is the adjusted earnings per share, which drops from a range of $1.67 to $1.73 in earnings down to a new range of $1.49 to $1.52 in earnings per share. Thomson Reuters had estimates of $1.70 EPS and $1.02 billion in revenue.
After rising by over 4% to $30.14 today, this mattress and bedding retailer is trading down close to 20% in the after-hours session at $24.50. The company’s 52-week trading range is $21,55 to $48.18.
JON C. OGG
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
