Sleep Country Canada Holdings Inc. shares jumped in early trading Friday morning after the company said earnings and revenue beat analyst expectations for the fourth quarter.
At 9:49 a.m. ET, shares were up 9.7% at C$30.89.
On Thursday after markets closed, the Canadian mattress retailer reported adjusted earnings per share of 83 Canadian cents, or 65 U.S. cents, up from C$0.74, ahead of FactSet-polled analyst expectations of C$0.68.
Revenue rose 9% to C$271.2 million, compared with expectations of C$250.4 million, as same-store sales increased by 3.2% in the period.
“We delivered strong performance in the fourth quarter, with exceptional two-year stacked revenue growth of 45.4% driven by increased consumer demand for our portfolio of products across our brands and channels,” President and Chief Executive Stewart Schaefer said.