05:17 PM EST, 03/06/2024 (MT Newswires) -- Sleep Country (ZZZ.TO) reported its Q4 2023 results after market close on Wednesday.

The sleep store generated a 5.2% increase in revenue, to $255.6 million, from $243 million, the year before. The increase was mainly due to incremental revenue earned from new stores, wrap stores opened in 2022 and the acquisitions of Silk & Snow and Casper Canada completed in January 2023 and April 2023 respectively. This increase was partially offset by a decrease in SSS by 3.2%.

Net income attributable to the company was $22.5 million or $0.65 per diluted share, in Q4 2023 from $40.5 million and $1.13 per diluted share, in Q4 2022.

Adjusted net income attributable to the company narrowed to $19.3 million or $0.56 per adjusted diluted share. The comparable figures in Q4 2022 were $23.9 million, and $0.67.