Mattress Firm Sags on Sales Warning

Mattress Firm Holdings

shares fell more than 15 percent Tuesday after the bedding retailer cut is sales forecast. Rivals Select Comfort

fell 8% following the Mattress Firm announcement, and Tempur-Pedic International

fell about 2 percent. Mattress Firm now expects second-quarter sales in a range of $260 – $265 million, down form a previous range of $270 – $275 million. The company now expects sales of $1.01 – $1.03 billion for the full year, down from $1.03 – $1.06 billion. Mattress Firm now expects second-quarter earnings of 38 to 40 cents a share; the company raised the low end of its previous range by 3 cents.