Business
Purple Announces Positive Black Friday/Cyber Monday Weekend Selling Period and Reiterates 2023 Full Year Outlook Ahead of Investor Conferences
Company Participating in Raymond James TMT & Consumer Conference on December 5 and ROTH MKM Deer Valley Conference on December 14 LEHI, Utah, Dec. 4, 2023
About this update from Purple Innovation, Inc.
[{"type":"text","content":"Company Participating in Raymond James TMT & Consumer Conference on December 5 and ROTH MKM Deer Valley Conference on December 14\nLEHI, Utah, Dec. 4, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) (\"Purple\"), a comfort innovation company known for creating the \"World's First No Pressure® Mattress,\" today announced positive year-over-year sales results for the Black Friday through Cyber Monday period (November 24-27, 2023) and reiterated its 2023 full year outlook.\n\n \n \n \n \n \n \n\n \n\"The momentum that has been building in our business since the launch of our Path to Premium Sleep strategy earlier this year has accelerated in the fourth quarter, most notably over the key Black Friday / Cyber Monday long weekend,\" said Chief Executive Officer Rob DeMartini. \"This was the first key holiday selling period when our new product portfolio and enhanced brand positioning were fully deployed across all distribution channels and all doors, and the results were positive. For the four days following Thanksgiving, we achieved high teens and high single-digit sales gains in our showroom channel and our eCommerce channel, respectively, and the sell-through feedback we received from our wholesale partners indicate that our balance of share was up meaningfully. Importantly, overall demand for our highest priced mattresses was strong, underscoring the traction we are making evolving Purple into a formidable player in the premium and luxury sleep space.\"\nWhile the Company is pleased with the positive quarter to-date results the category remains challenged, therefore the Company is reiterating its full year outlook. For 2023, Purple still expects net revenue to be in the range of $510 to $520 million and negative adjusted EBITDA between $(65) million and $(55) million. \nThe Company also announced it is hosting meetings with investors at the Raymond James TMT & Consumer Conference on December 5, 2023 in New York City and at the ROTH MKM Deer Valley Conference on December 14 in Deer Valley, Utah.\nAbout PurplePurple, the leading premium mattress company with the #1 Gel Grid technology in the world, the GelFlex® Grid, thoughtfully engineers products that make restorative sleep effortless for every kind of sleeper. The result of over 30 years of innovation and in comfort technologies, Purple's GelFlex Grid is the most sign...