UNION, N.J.—Mattress Bathtub & Past executives are bullish on their progress in remodeling the specialty retailer and rebuilding its function as a frontrunner in house. They mentioned they’re heading in the right direction by way of digital initiatives, buyer acquisition and retention, a merchandise re-sort and operational enhancements, though the chain’s fourth quarter and full yr outcomes have been blended.
The corporate heralded its digital gross sales progress of 86% on the yr and a 3rd consecutive quarter of comparable gross sales and revenue progress, which was 4% for the full enterprise and 6% for the Mattress Bathtub & Past banner. Web earnings was $9 million within the quarter ended Feb. 27, 2021, in comparison with a lack of $65 million within the prior-year interval.
In his opening remarks to traders on Wednesday morning, CEO Mark Tritton famous that 2020 was a pivotal yr by which the retailer “reformed its previous, overcame extraordinary circumstances and rebuilt its authority in house.” He highlighted its a couple of billion on-line guests and an internet conversion charge of 30%.
He additionally mentioned the corporate has