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SunTrust Issues Report On Mattress Stocks

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Stocks in the Mattress group moved lower Thursday afternoon following some potentially concerning comments from SunTrust's Keith Hughes.

Hughes warned follow through into the summer months may not materialize.

Shares of Mattress Firm (NASDAQ: MFRM), Select Comfort (NASDAQ: SCSS) and Tempur Sealy International (NYSE: TPX), all closed down on the day.

The firm stated anecdotal reports on Memorial Day sales are pointing to a mid- to high-single-digit positive weekend versus the "flattish to modestly improved results seen for most of 2014."

The firm continued to say that this might be a problem because this is hardly the blowout that would mark a potential change in the industry trajectory, which can occur on these holidays.

Posted-In: Keith Hughes SunTrustEarnings News Guidance

 

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