Mattress Firm (MFRM) missed Wall Street estimates in its second quarter, but it is being acquired by Steinhoff which believes that consumers want to test furniture before buying it, said TheStreet's Jim Cramer. Mattress Firm Holding on Friday reported a fiscal second-quarter loss of $2.2 million, after reporting a profit in the same period a year earlier. The Houston-based company earned an adjusted $0.51 a share, falling short of Wall Street expectations for $0.65 a share. The bedding retailer posted revenue of $980 million in the period, which also fell short of Street forecasts of $997.5 million.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.