Sleep Country Canada: Rises on upbeat Q3 results

Sleep Country Canada Holdings

10/11/2020 19:23

** Shares of Canadian mattress retailer  ZZZ.TO  rise as
much as 17% to a two-year high of C$26.53
    ** ZZZ's Q3 revenue rises 15.4% to C$242.4 mln, while
adjusted profit per share jumps 50% to 90 Canadian cents,
boosted by strong online demand  urn:newsml:reuters.com:*:nCNWmMQ73a
    ** Three analysts polled by Refinitiv were expecting revenue
of C$211.6 mln and profit per share of 56 Canadian cents
    ** "This period was the most successful Q3 in ZZZ's history
with record revenue, net income and EPS" - CEO Dave Friesema
    ** Shares, last up 9.5%, on course for their best day in
about four months
    ** ZZZ is well-positioned to garner incremental share of the
sleep category in Canada and drive outpaced growth, leading to
enhanced profitability and serious returns for shareholders -
Scotiabank analyst Patricia Baker
    ** ZZZ shares up about 23% this year

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@thomsonreuters.com))