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.



“We are pleased our dedicated organization delivered 68.7% net sales growth and our seventh consecutive quarter of positive comparable-store sales, as we continue to navigate a period of extraordinary integration of multiple acquisitions,” said Steve Stagner, Mattress Firm’s CEO.



Looking ahead, Mattress Firm expects net sales of $2.48 billion to $2.53 billion.