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Mattress Firm perks up Q1 profit and sales; will open 220-240 stores
Houston – Reductions in sales, general and administrative (SG&A) expenses, as well as in operating expenses, helped Mattress Firm Holding Corp. increase net income 41% to $7.72 million from $5.48 million the same quarter the prior fiscal year. The acquisition of 131 Back to Bed and Bedding Experts, Bedding Experts, and Mattress Barn stores in September 2014 drove a 69% jump in net sales to $562.6 million from $333.5 million.
Same-store sales rose 1.3%. Mattress Firm plans to open 220-240 new stores during the fiscal year.
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Kohl's, Disney win big at LIMA awards
Kohl's and Disney's "Frozen" were among the winners at the LIMA International Licensing Awards.
In a ceremony held this week at the Mandalay Bay Convention Center, Kohl's Department Stores received the Retailer of the Year award for its in-store presentation of Frozen.
In addition, Jakks Pacific tied with Playmate Toys' Teenage Mutant Ninja Turtles product line for the win in the Film, Television or Entertainment (Animated) Licensee: Hard Goods category for its Disney Frozen Snow Glow Elsa doll.