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September 2016
September 2016
August 2016
August 2016
June 2016
June 2016
April 2016
March 2016
February 2016
February 2016
Exhibit 99.1
FOR IMMEDIATE RELEASE
MATTRESS FIRM ANNOUNCES FOURTH FISCAL QUARTER AND FULL FISCAL YEAR 2015 FINANCIAL RESULTS
Tenth Consecutive Quarter and Sixth Consecutive Year of Comparable-Store Sales Growth
Achieved 90 basis points of Adjusted EBITDA Margin Improvement in Q4
Q4 GAAP EPS Increased Approximately 95% to $0.37 and Adjusted EPS Increased 29% to $0.53
Provides Guidance for Q1 and Full Fiscal Year 2016
HOUSTON, March 21, 2016 /BUSINESSWIRE/ Mattress Firm Holding Corp. (the Company) (NASDAQ: MFRM), the nations largest specialty mattress retailer, today announced its financial results for the fourth fiscal quarter (13 weeks) and full fiscal year (52 weeks) ended February 2, 2016. Net sales for the fourth fiscal quarter increased 3.4% over the prior year (14 weeks) to $618.6 million, reflecting comparable-store sales growth of 0.7% and incremental sales from new and acquired stores. The Company reported fourth fiscal quarter earnings per diluted share (EPS) on a generally accepted accounting principles (GAAP) basis of $0.37, and EPS on a non-GAAP adjusted basis, excluding acquisition-related costs, fixed asset impairment costs and severance charges (Adjusted), of $0.53.
Reported sales results and expected GAAP and Adjusted EPS are preliminary and remain subject to audit and adjustment until the filing of the Companys Annual Report on Form 10-K with the U.S. Securities and Exchange Commission. The Company expects to report its finalized fourth fiscal quarter and full fiscal year results in early April.
Expected diluted EPS on a GAAP basis and Adjusted basis are reconciled in the table below:
Fourth Fiscal Quarter and Full Fiscal Year Reconciliation of GAAP to Adjusted EPS and Adjusted Cash EPS
See Reconciliation of Reported (GAAP) to Adjusted Statements of Operations Data for Notes
|
|
Fourteen |
|
Thirteen |
|
Fifty-Three |
|
Fifty-Two |
| ||||
|
|
February 3, 2015 |
|
February 2, 2016 |
|
February 3, 2015 |
|
February 2, 2016 |
| ||||
GAAP EPS |
|
$ |
0.19 |
|
$ |
0.37 |
|
$ |
1.27 |
|
$ |
1.82 |
|
Adjustments |
|
|
|
|
|
|
|
|
| ||||
Acquisition-related costs (1) |
|
0.16 |
|
0.07 |
|
0.52 |
|
0.41 |
| ||||
Secondary offering costs (2) |
|
0.02 |
|
|
|
0.02 |
|
0.01 |
| ||||
ERP system implementation costs (3) |
|
0.04 |
|
|
|
0.13 |
|
0.01 |
| ||||
Impairment charges (4) |
|
0.01 |
|
0.08 |
|
0.02 |
|
0.10 |
| ||||
Other expenses (5) |
|
0.00 |
|
0.01 |
|
0.06 |
|
0.01 |
| ||||
Adjusted EPS* |
|
$ |
0.41 |
|
$ |
0.53 |
|
$ |
2.03 |
|
$ |
2.36 |
|
Non-Cash Adjustments |
|
|
|
|
|
|
|
|
| ||||
Depreciation and amortization expense |
|
0.26 |
|
0.34 |
|
0.82 |
|
1.22 |
| ||||
Stock-based compensation expense |
|
0.05 |
|
0.04 |
|
0.14 |
|
0.15 |
| ||||
Adjusted Cash EPS* |
|
$ |
0.73 |
|
$ |
0.91 |
|
$ |
2.99 |
|
$ |
3.73 |
|
|
|
* Due to rounding to the nearest cent, totals may not equal the sum of the lines in the table above.
5815 Gulf Freeway · Houston, TX · 77023 · Phone: 713-923-1090 · Fax: 713-923-1096
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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Mattress Firm Holding Corp..
Mattress Firm Holding Corp.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2016 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Mattress Firm Holding Corp. provided additional information to their SEC Filing as exhibits
Ticker: MFRM
CIK: 1419852
Form Type: 10-K Annual Report
Accession Number: 0001419852-16-000017
Submitted to the SEC: Mon Apr 04 2016 3:26:56 PM EST
Accepted by the SEC: Mon Apr 04 2016
Period: Tuesday, February 2, 2016
Industry: Retail Furniture Stores