Mattress Firm Sags on Sales Warning
Mattress Firm Holdings (NASDAQ: MFRM) shares fell more than 15 percent Tuesday after the bedding retailer cut is sales forecast.
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.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.