Mattress Firm Misses Q2 Expectations

Mattress Firm Holding Corp MFRM continued its trend of delivering less than expected results for the third time in a row.

The company suffered a net loss of $1.77 million, or a loss per share of $0.06, compared to net income of $21.88 million, or EPS of $0.61, in the year-ago quarter. On an adjusted basis, its EPS would have dipped from $0.68 to $0.57. Street estimated an EPS of $0.65.

Mattress Firm's net sales jumped 48.2 percent to $980 million thus missing the analysts' predictions of $1.00 billion. However, its comparable-store sales fell 1.1 percent in the second quarter.

Chairman Steve Stagner said, "We remain excited about the future opportunities for our business as we build a national chain in the U.S. We are also moving towards the completion of

The earnings and revenue miss aren't reflected in the stock price since the company is being acquired by Steinhoff International.