Purple Innovation Inc (PRPL) rose almost 3% on May 17 after the comfort technology company announced strong first-quarter results. Purple Innovation designs and manufactures mattresses, pillows, and cushions. Net sales of $186.4 million surpassed the Street’s estimates of $167.2 million and jumped 52.3% from the year-ago period. The increase was attributed to strong growth for products across both the direct-to-consumer (DTC) and wholesale channels. Earnings soared 112.5% to $0.17 per share, beating consensus estimates of $0.10 per share. DTC and wholesale revenue increased 54.8% and 47.6%, respectively, on a year-over-year basis.
https://www.tipranks.com/news/purple-innovation-beats-analysts-expectations-in-q1-raises-2021-outlook
Purple Innovation (NASDAQ:PRPL)
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