Mattress Firm guides Q2 above consensus; raises FY14 outlook
- Co reported preliminary net sales and adjusted EPS for the second fiscal quarter ended July 29, 2014.
- Net sales for the second fiscal quarter increased 35.5% to $410 million (Capital IQ consensus $384 mln), reflecting comparable-store sales growth of 9.7% and the addition of new and acquired stores. The Company expects second fiscal quarter earnings per diluted share on a generally accepted accounting principles basis of $0.39 to $0.42, and EPS on a non-GAAP adjusted basis, excluding ERP system implementation costs, acquisition-related costs and impairment and severance charges, is expected to be between $0.58 and $0.61 per diluted share for the second fiscal quarter, Capital IQ consensus $0.49.
- Co raises FY14 revenue guidance to $1.545-1.585 mln (Capital IQ consensus $1.53 bln)
- Raises Adjusted FY14 EPS guidance to $2.03-2.13 (Capital IQ consensus $1.95)