Market Overview

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.

Rivals Select Comfort (NASDAQ: SCSS) fell 8% following the Mattress Firm announcement, and Tempur-Pedic International (NYSE: TPX) 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.

Posted-In: News Guidance

 

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