Daily News
From Home Furnishing Business
Mattress Firm 2Q Income Hits $21.9 Million
September 14,
2015 by in Financial Reports, Industry 
Bedding retailer Mattress Firm (NASDAQ: MFRM) posted net income of $21.9 million for the second quarter ended Aug. 4 compared to net income of $14.3 million in the same quarter last year.
Net sales for the quarter were $661.1 million, a 61.2 percent increase from net sales of $ $410 million during the second quarter last year.
During the quarter, Mattress Firm opened 71 stores and closed 11. At the end of the second quarter, the company held 2,223 stores.
"We are pleased that we delivered 61 percent net sales growth and our eighth consecutive quarter of positive comps, against our most difficult comparison of the year," said Steve Stagner, CEO. "We saw strong results in the first half of the quarter, offset by softness in the second half of the quarter and renewed headwinds in our oil-affected markets. Our integration of multiple acquisitions is progressing, and we are excited about the continued outperformance of the Sleep Train business and the progress we are seeing in Chicago.”
The complete earnings release can be found online.