Description

Sign up or Log In

Sign up for free guest access to view investment ideas with a 45-day delay and read the full report.

Log in to read the full report.

show sort by

You are not eligible to view 69 messages. To gain access to more recent message posts signup free for membership.

#	AUTHOR DATE SUBJECT
84	member 9/11/14 3:28PM RE:RE RE:RE:RE:RE: Anyone still involved here? 83
One dynamic worth noting is that big box retailers, especially those that focus on electronics, are seeing prices deflate and replacement cycles elongate. They are trying to leverage their delivery/install infrastructure and mattresses is one of... login to read the rest view available tags
69	member 7/17/13 11:03AM Still following?
Has anything changed, or is this simply a case of housing + heavily shorted = up up up? view available tags
54	member 12/04/12 5:12PM SSS
Can anyone actually make this SSS number work? They had $183.5MM in sales in Q3 3011. They had $12MM in comp sales this Q. They had at a MAX $10.0MM in closed sales in the... login to read the rest view available tags
49	member 12/04/12 4:45PM RE: ...aaaaaaaaaaaaaaaaaaand, it's gone 48
If repeating guidance and saying you feel comfortable with it in early November, pricing a secondary, and then four weeks later guiding your fourth quarter 50% below where you guided analysts earlier… with a 0-2%... login to read the rest view available tags
46	member 10/17/12 11:19PM Any read through from SCSS?
Any updated thohgts appreciated. view available tags
45	member 9/28/12 12:20PM RE: RE: RE: TPX for ZZ deal 44
honestly, i don't have a great feel for TPX, but your point are logical. I think it's a smart deal. I'm actually going to run numbers as well. Will post here if I have a view available tags
43	member 9/27/12 4:41PM RE: TPX for ZZ deal 42
Completely agreed. The industry runs, in large part, on the vendor incentives. And they have been a pretty high levels this year due to competition, which makes me think they are are likely to come... login to read the rest view available tags
41	member 9/07/12 10:05AM RE: RE: Thoughts anyone? 40
they also used a 33% tax rate for their adjusted earnings, when it really should be 39%. if they had used their normal tax rate, they were actually below their EPS guidance range that they... login to read the rest view available tags
39	member 9/06/12 5:42PM Thoughts anyone?
Sounds like acquired and new stores are cannibalizing existing store case... hence their SSS guide went from 11% for Q2 and Q3 to 5%... view available tags
38	member 7/16/12 6:39PM MFRM Guidance
So SSS are falling off 5 weeks after they assured everyone they were great? Unless they just made it all up (which is possible), the only real way I could see SSS having dipped like... login to read the rest view available tags
37	member 7/02/12 9:03PM RE: RE: Mattress Giant Disclosures/Channel Checks 36
Well, it doesn't seem like MFRM has been playing around and not expensing employee compensation. On the asset side, only inventories (which MFRM flips fast... though maybe a growing stale TPX product problem?) seem out... login to read the rest view available tags
35	member 7/02/12 11:04AM Mattress Giant Disclosures/Channel Checks
I like how if MFRM were to cut all of MG's G&A and Advertising expense (~$15MM and $10MM respectively) and model interest expense at 8.2MM (will be higher due, but whatever) with a 38% tax... login to read the rest view available tags
32	member 6/06/12 11:02AM RE: tpx 30
I know I am asking for a lot, but would you mind elaborating on your due diligence process? If you were training an analyst, what would you tell them to do, and what really stuck view available tags
29	member 6/06/12 10:06AM RE: If you're wondering why MFRM is -18%... 28
I have not been following the name, or the industry for that matter, so please don't jump on me if what I am asking is obvious (I am just trying to learn for the future). ... login to read the rest view available tags
22	member 6/04/12 11:43AM Q1
Anyone have a take on this Q? I have almost none, but they'll have to give metrics for the MG 180 acquisition they just made. (Though will probably be in the 10-Q, and who knows when they'll view available tags
21	member 5/30/12 9:16AM RE: RE: RE: Questions 20
Just a quick one and then I'll try to give more thoughts a little later when things slow. MFRM said they're "about 75%" but their guidance implies stores at running 60% for MG180 ($92.MM in... login to read the rest view available tags
18	member 5/29/12 10:37AM RE: Questions 17
I completely agree with your assessment. MFRM pays almost nothing for a new store, so there's no reason to not throw up a store and see how it does. Mattress retailing is a surprisingly good business at... login to read the rest view available tags
13	member 5/25/12 3:54PM RE: Major competition coming in... 12
you mean someone else figured out a way to rent space in a stripmall, install light bulbs, and color code the mattresses? i love the disclosure on the vendor incentives in the adjusted ebitda. "Adjustment to recognize... login to read the rest view available tags
12	member 5/25/12 9:14AM Major competition coming in... 11
Ashley Furniture just announced they will be rolling out several thousand mattress retail shops in the coming years in a quest to be #1 in the industry. It appears we are entering the overexpansion and... login to read the rest view available tags
9	member 5/24/12 9:28AM Agreed... and a few additional thoughts
We agree with your writeup and I just wanted to add a couple of thoughts. First, the company's reported adjusted EBITDA is overstated in our view. The company overrides GAAP and adds in 100% of vendor... login to read the rest view available tags
2	member 5/18/12 10:17AM RE: Agreed 1
One more... I just can't resist. Marketing expense is almost entirely selling commissions. (They pay employees a draw against sales commissions.) So there should be zero leverage from that line... it's really a COGS item. view available tags
1	member 5/18/12 10:06AM Agreed
As I am literally mid write up on MFRM myself (like... that's what I'm finishing up this morning), I almost completely agree. To nitpick, I think you're being a little unfair... Mattress retailing isn't glamorous, but... login to read the rest view available tags

load more messages

			2017	2018
Price:	17.50	EPS	1.04	1.50
Shares Out. (in M):	116	P/E	17	11.3
Market Cap (in $M):	1,922	P/FCF	8.2	8.6
Net Debt (in $M):	1,967	EBIT	459	549
TEV (in $M):	3,884	TEV/EBIT	8.4	7.0

Description

Sign up or Log In

Sign up for free guest access to view investment ideas with a 45-day delay and read the full report. Log in to read the full report.

Sign up for free guest access to view investment ideas with a 45-day delay and read the full report.

Log in to read the full report.