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Mattress Firm Blames Winter Weather for cut in 4Q Earnings Forecast

 (Image source: timesfreepress.com)

Shares of Mattress Firm Holding Corp (NASDAQ:MFRM) are down in early trading as a result of a cut in fourth quarter earnings forecast. The company expects to earn profits in the range of $1.53 to $1.55 a share for the 4Q, down from the previous estimate of $1.65 to $1.73 per share. Mattress Firm cited the string of bad winter weather and increased spending on efforts tied to generating more traffic and sales in the 4Q, which lowered margins in the process as reasons for the forecast revision. In addition, the company’s projected first quarter profits were below analysts’ expectations.