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From Home Furnishing Business
Purple Innovation Announces Positive Holiday Sales Results
December 4,
2023 by HFBusiness Staff in Business Strategy, Industry 
Purple Innovation, Inc., a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced positive year-over-year sales results for the Black Friday through Cyber Monday period (Nov 24-27) and reiterated its 2023 full year outlook.
"The momentum that has been building in our business since the launch of our Path to Premium Sleep strategy earlier this year has accelerated in the fourth quarter, most notably over the key Black Friday / Cyber Monday long weekend," said Chief Executive Officer Rob DeMartini.
"This was the first key holiday selling period when our new product portfolio and enhanced brand positioning were fully deployed across all distribution channels and all doors, and the results were positive.”
“For the four days following Thanksgiving, we achieved high teens and high single-digit sales gains in our showroom channel and our eCommerce channel, respectively, and the sell-through feedback we received from our wholesale partners indicate that our balance of share was up meaningfully. Importantly, overall demand for our highest priced mattresses was strong, underscoring the traction we are making evolving Purple into a formidable player in the premium and luxury sleep space."
While the Company is pleased with the positive quarter to-date results the category remains challenged; therefore the Company is reiterating its full year outlook. For 2023, Purple still expects net revenue to be in the range of $510 to $520 million and negative adjusted EBITDA between $(65) million and $(55) million.
The Company also announced it is hosting meetings with investors at the Raymond James TMT & Consumer Conference on Dec 5 in New York City and at the ROTH MKM Deer Valley Conference on Dec 14 in Deer Valley, Utah.