Texas, US: Mattress Firm has announced that two of its key owners will sell 4.7 million shares of stock in the retailer through an offering.
Investment funds associated with Neuberger Berman Group will offer about 3 million shares and funds associated with JW Childs will sell 1.5 million shares, according to an S-1 form the company filed with the Securities and Exchange Commission. Some members of management would offer 194,987 shares.
On September 6, Mattress Firm reported its second quarter results for the 13 weeks that ended July 31. The company posted a net income of US$10 million, or 30 cents per share, compared to a net income of US$3.6 million, or 16 cents per share, in the same quarter of 2011.
In the second half of the year, Mattress Firm said it expects earnings per share to decrease by three to four cents because of acquisition-related costs.
Mattress Firm said it acquired Mattress XPress and Mattress Xpress of Georgia on September 4 for about US$15.8 million. The acquisition includes about 30 mattress stores primarily in South Florida.
