Mattress Firm shares stumble after hours
LOS ANGELES (MarketWatch) -- Shares of
Mattress Firm (MFRM) , a retailer that sells its own brand of mattresses along with lines including Sealy and Simmons, saw its stock slump 12% at $30.90 in active volume. The company said first-quarter revenue rose 38% to $209.8 million from $151.9 million a year ago, but the most recent result was below the Thomson Reuters consensus estimate of $212 million.
Adjusted earnings of 31 cents a share were ahead of Wall Street's call of 25 cents a share. Profit was $9.7 million, or 29 cents a share, compared with $1 million or 5 cents a share in the year-earlier period.
Mattress Firm increased its full-year earnings forecast to a range between $1.46 and $1.50 a share, and backed its full-year sales outlook. Analysts currently expect earnings of $1.51 a share. Read more about Mattress Firm's quarterly results, forecast.
During the regular session, U.S. stocks finished higher, aided by a better-than-expected report about activity in the services sector. The Dow Jones Industrial Average (DJIA) logged its first win in five sessions, closing up 26 points, or 0.2%, to 12,127.95. The S&P 500 Index (SPX) rose 0.6% to 1,285.50 and the Nasdaq Composite Index (COMP) gained 0.7% to 2,778.11.