Mattress Firm raises fiscal year sales forecast

HOUSTON — Bedding retailer Mattress Firm has raised its sales and comparable-store sales estimates for the fiscal year that ends Jan. 31.

The company said it now expects sales for the year to total $690 million to $695 million - up from earlier projections of $685 million to $690 million. Comp-store sales are projected to show an increase of 18% to 19%, up from the previous forecast of 16% to 17%.

Steve Stagner, CEO, said the improved projections reflect a stronger-than-anticipated fourth quarter.

"During the holiday season, the strength and appeal of our brand, customer loyalty, and the benefits we are deriving from selling the leading brands in the bedding industry continue to push our comparable-store sales growth," Stagner said. "We remain focused on executing our growth strategies, which include selectively expanding our store base in underpenetrated markets and providing our customers with great brands to drive our sales growth."

Including franchisees, Mattress Firm has more than 800 stores in 25 states.