Steinhoff - comment

Strong results from Steinhoff this morning. Some investors are closer to Mattress Firm reportings, but this morning’s Q122 (to Dec 21) report from Steinhoff surprised us with the continued high 21% same store sales growth Mattress Firm are achieving. We have discussed Pepco’s flat LfL performance before. Overall sales are up 10% YoY, which is encouraging.