Mattress Firm Announces Second Fiscal Quarter Financial Results

Call Information

A conference call to discuss second fiscal quarter results is scheduled for today, September 6, 2012, at 5:00 p.m. Eastern Time. The call will be hosted by Steve Stagner, president and chief executive officer, and Jim Black, chief financial officer.

The conference call will be accessible by telephone and the Internet. To access the call, participants from within the U.S. may dial [phone], and participants from outside the U.S. may dial [phone]. Participants may also access the call via live webcast by visiting the Company’s investor relations Web site at www.mattressfirm.com.

The replay of the call will be available from approximately 8:00 p.m. Eastern Time on September 6, 2012 through midnight Eastern Time on September 20, 2012. To access the replay, the domestic dial-in number is [phone], the international dial-in number is [phone], and the passcode is 399297. The archive of the webcast will be available on the Company’s Web site for a limited time.

Net Sales and Store Unit Information

The components of the net sales increase were as follows (in millions):

			Increase (decrease) in net sales
			Thirteen Weeks				Twenty-Six Weeks
			Ended				Ended
			July 31, 2012				July 31, 2012
	Comparable-store sales		$	8.8			$	32.8
	New stores			31.9				59.9
	Acquired stores			43.4				51.4
	Closed stores			(2.0	)			(4.1	)
			$	82.1			$	140.0

The composition of net sales by major category of product and services were as follows (in millions):

		Thirteen Weeks Ended													Twenty-Six Weeks Ended
		August 2,			% of			July 31,			% of				August 2,			% of			July 31,			% of
		2011			Total			2012			Total				2011			Total			2012			Total
Specialty mattresses		$	77.7		43.2	%		$	127.6		48.7	%			$	139.1		41.9	%		$	233.9		49.6	%
Conventional mattresses			86.2		47.9	%			112.4		42.9	%				163.2		49.2	%			197.8		41.9	%
Furniture and accessories			12.1		6.7	%			17.2		6.6	%				22.2		6.7	%			31.3		6.6	%
Total product sales			176.0		97.8	%			257.2		98.2	%				324.5		97.8	%			463.0		98.1	%
Delivery service revenues			3.9		2.2	%			4.8		1.8	%				7.3		2.2	%			8.8		1.9	%
Total net sales		$	179.9		100.0	%		$	262.0		100.0	%			$	331.8		100.0	%		$	471.8		100.0	%

Prior-year components of the Company’s net sales have been reallocated between specialty mattresses and conventional mattresses to be consistent with current-year presentation.

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