MFRM: Things Are Looking Cushy for Mattress Firm Stock

by Christopher Freeburn | March 14, 2014 9:15 am

MFRM: Things Are Looking Cushy for Mattress Firm Stock

On Thursday, Mattress Firm Holding Corp. (MFRM[1]) posted higher quarterly sales and boosted its outlook for the year[2], sending MFRM stock up almost 5% in Friday pre-market trading.

mattress firm 630 300x223 MFRM: Things Are Looking Cushy for Mattress Firm Stock[3]
Source: Flickr[4]

MFRM stock gained after Mattress Firm said it earned $8.7 million during the fourth quarter, up from $7.6 million during the year-ago period. Adjusted earnings were flat at 30 cents per MFRM share, but that was a penny better than the 29 cents that analysts had anticipated, the Wall Street Journal notes.

During the quarter, MFRM reported net sales of $312.1 million, up 21% year-over-year and in line with previously announced guidance. MFRM said that same-store sales rose 6.5% in the fourth quarter. MFRM stores sell a variety of leading mattress brands.

MFRM also raised its revenue forecast for the current fiscal year from earlier estimates of between $1.38 billion and $1.43 billion, to a new range of between $1.46 billion and $1.52 billion. Adjusted EPS for the current fiscal year is now projected at between $1.88 and $2 per MFRM share, up from previous guidance of between $1.85 and $1.95 per share.

On Thursday, MFRM stock closed at $44.45 per share. Over the past year, MFRM stock has gained more than 45%.

Endnotes:
  1. MFRM: http://studio-5.financialcontent.com/investplace/quote?Symbol=MFRM
  2. boosted its outlook for the year: http://online.wsj.com/article/BT-CO-20140313-712706.html
  3. [Image]: http://investorplace.com/wp-content/uploads/2012/04/mattress-firm-630.jpg
  4. Flickr: http://www.flickr.com/photos/katetomlinson/3563545174/

Source URL: http://investorplace.com/2014/03/mfrm-things-looking-cushy-mattress-firm-stock/
Short URL: http://invstplc.com/1fwjyAt