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Mattress Firm meets Street with Q3 profit, plans store growth
Houston - Mattress Firm Holdings met Wall Street expectations with its financial performance in the third quarter of fiscal 2014. In addition, the company increased its guidance for store growth in the fiscal year 2014, and now plans to have opened a total of 200-220 new stores and acquire 665 stores by the end of the fiscal year.
The new store total includes 163 stores opened and 619 acquired so far this year.
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Online aids Ascena sales of niche brands
Healthy e-commerce growth offset a sales slowdown at Ascena Retail Group’s physical stores and enabled the company to achieve its first quarter financial expectations.
Ascena, operator of stores under the Lane Bryant, Cacique, Maurices, Dressbarn, Catherines, Justice and Brothers brands, said same store sales declined 2% during its first quarter ended Oct. 25 as a 16% comp increase online wasn’t enough to offset a 4% decline at physical stores.