HOUSTON (AP) — In a story June 5 about Mattress Firm's earnings, The Associated Press erroneously compared analysts' consensus estimate for adjusted earnings to the company's bottom-line net income of 29 cents per share. It should have said that, excluding one-time costs linked to the Mattress Giant acquisition, Mattress Firm earned 31 cents per share for the first quarter, compared with analysts' average forecast of 25 cents per share.
Also, The Associated Press erroneously compared the company's second-quarter profit outlook, which included charges, to the analysts' non-GAAP consensus estimate, which excluded the charges. The AP should have said that Mattress Firm expects second-quarter earnings, excluding one-time costs, to total 35 cents to 40 cents per share. That compared with the average analyst estimate for adjusted earnings of 33 cents per share, according to FactSet on June 5.