Mattress Firm Holding Corp. announced that the Company is raising its net revenue and comparable-store sales guidance for fiscal 2011 ending January 31, 2012.
For fiscal 2011, the Company now expects net revenue to be in the range from $690 million to $695 million, compared to net revenue of $494 million for fiscal 2010 ended February 1, 2011. The Company previously disclosed expected net revenue ranging from $685 million to $690 million for fiscal 2011. The Company's improved guidance reflects stronger-than-anticipated net revenue for the fourth quarter of fiscal 2011.
Comparable-store sales for fiscal 2011 are expected to reflect an increase of 18% to 19%. The Company previously disclosed an expected increase in comparable-store sales of 16% to 17% for fiscal 2011.
Steve Stagner, Mattress Firm's chief executive officer, commented, “It is exciting to provide such a positive update to our sales results for the year. During the holiday season, the strength and appeal of our brand, customer loyalty, and the benefits we are deriving from selling the leading brands in the bedding industry continue to push our comparable-store sales growth. We remain focused on executing our growth strategies, which include selectively expanding our store base in underpenetrated markets and providing our customers with great brands to drive our sales growth.”
Management will be presenting at the ICR XChange Conference on Wednesday, January 11, 2012 in Miami Beach, Florida. See separate release for webcast information.
About Mattress Firm: Houston-based Mattress Firm is one of the nation’s leading specialty bedding retailers, offering a broad selection of both traditional and specialty mattresses from leading manufacturers, including Sealy, Serta, Simmons, Stearns & Foster and Tempur-Pedic.