01:20 PM EST, 03/08/2024 (MT Newswires) -- Sleep Country reported Q4/23 adjusted EPS of $0.56, in line with NBF vs. consensus at $0.53; last year was $0.67.

Key Takeaways:

National Bank is constructive on Q4/23 results given an improving trajectory in key metrics -- revenue and EBITDA exceeded NBF expectations, while EPS was in line.

Analyst Vishal Shreedhar notes that Sleep Country indicated three priorities for 2024: growth through innovation, customer experience and operational excellence. "Cautious consumer spending pressures the backdrop, though ongoing improvement initiatives could offset (minimum of six new stores, new store formats, lower product costs, reduced 3PL costs, etc.)," Shreedhar adds.

EPS estimates are revised upward: 2024 goes to $2.37 from $2.29 and 2025 goes to $2.67 from $2.59.

Maintain Sector Perform rating; price target raised to $31 from $28.

Price: 28.44, Change: -0.74, Percent Change: -2.54