PRPL - Purple Innovation rallies 5% after issuing strong guidance

Purple Innovation (PRPL) trades higher after issuing strong guidance. The company sees Q2 revenue of $200M to $210M vs. $195M consensus. For the full year, Purple Innovation expects revenue of $860M to $900M vs. $856M consensus and the prior view for $840M to $880M. Adjusted EBITDA of $95M to $105M is also anticipated vs. $90M to $100M prior. CEO outlook: "Looking ahead, our plans are firmly around providing customers with innovative comfort solutions through our omni-channel retail strategy. This includes upgrading our digital capabilities in order to better integrate our multiple product categories and enhance the online shopping experience, accelerating the rollout of Purple showrooms, and strengthening our wholesale relationships. We've built a great foundation and we are very excited to leverage the many strengths of our organization to capitalize on the tremendous opportunities that exist for our business." Shares of Purple Innovation are up 4.78% premarket to $32.69 after the Q1

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Purple Innovation rallies 5% after issuing strong guidance