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Mattress Firm: ‘Sales momentum higher’ in January

Time:2019-04-12 10:27:49    Share:

While sales at Mattress Firm dropped 4% in the quarter ending Dec. 31, the new year “has started well,” according to a company report.

In a quarterly update on its businesses, Steinhoff International reviewed the sales performance of its various business units, including Mattress Firm. It cited a number of positives for the mattress retailer.

In January, sales momentum “was higher with over 16% like-for-like sales growth against January 2018, while sales per store during the January financial period increased by 34%,” Steinhoff said.

Steinhoff said Mattress Firm successfully completed its restructuring 48 days after its Chapter 11 filing last fall. The company now has an optimized store footprint, a stronger balance sheet, and significant financial liquidity,” Steinhoff said.

During that process, Mattress Firm exited 640 “economically inefficient retail store locations,” and closed approximately 40 stores in its last quarter through natural lease expirations, the company said.

Mattress Firm remains the largest specialty mattress retailer in the U.S. with more than 2,550 company-operated store locations, officials said.