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Top 25 bedding retailers boost sales 11.7%
Select Comfort captures No. 1 spot by wide margin with 37.3% increase
By David Perry -- Furniture Today, August 1, 2004
High Point — High Point— The Top 25 U.S. bedding retailers collectively turned in an impressive double-digit performance last year, growing bedding sales from $3.02 billion in 2002 to $3.37 billion last year — an 11.7% increase.
One of the largest increases on the list, 37.3%, was posted by airbed retailer Select Comfort, the No. 1 bedding merchant by a wide margin.
That savvy producer and retailer saw retail sales last year jump to $428.2 million, putting it far ahead of No. 2 Mattress Firm, which recorded an 11.1% increase in 2003 to $260 million.
Since Select Comfort sells specialty bedding and Mattress Firm is primarily a retailer of conventional bedding, Houston-based Mattress Firm ranks as the nation's largest retailer of conventional bedding.
No. 3 on this year's list, in the same spot as last year, is New York-based Sleepy's, whose 11.5% sales gain pushed its bedding sales to $253 million last year.
The first change in position comes at the No. 4 spot, where Sam's Club takes over the slot formerly held by Federated Department Stores, which moves down to No. 5. Furniture/Today estimates that Sam's Club grew its bedding business by 14.3% last year to $240 million, with a sharply priced, tightly edited assortment.
Bedding specialist Mattress Giant moves up one slot on the list to No. 6 with a 2.2% sales increase to $188 million.
The first furniture stores come up in the No. 7 position with the Berkshire Hathaway furniture division, comprised of Nebraska Furniture Mart, R.C. Willey, Jordan's and Star Furniture. That group boosted its bedding volume by 12.6% to $143 million.
May Department Stores, with a 10% bedding gain to $143 million — but with a smaller percentage increase than Berkshire Hathaway's furniture stores — is in the No. 8 slot.
No. 9 The Sleep Train, which more than doubled its store count last year, recorded a 65.7% sales gain, the largest percentage gain in the Top 25. That sizzling performance vaulted the retailer to $140 million.
In the No. 10 spot is Rooms To Go, with bedding sales last year of $140 million.
This year's Top 25 list welcomes three newcomers. Tempur-Pedic, a producer and retailer of visco-elastic beds and pillows, had direct-to-the-consumer sales last year of $60 million, a 53.8% increase over the year before, and ranks in the No. 23 position.
Big Lots grew its bedding business from $40 million in 2002 to $58 million last year, a 45% increase, and is in the No. 24 position. And Sleep Country USA, with bedding sales of $53 million, nabbed the final spot on the list.
Only one retailer in the Top 25 posted a significant decline last year. And that retailer, Mattress Discounters, reorganized its business.
Looking at growth by distribution channels, the two discount department stores on the list, Wal-Mart and Big Lots, together posted a 23% sales increase. Next were the two warehouse membership clubs, Sam's and Costco, up a collective 14.1%.
The four department stores on the list were up a collective 10.2%, and the 11 specialists posted an 11.2% increase. Furniture stores as a group recorded an 8.2% sales increase last year.
Several retailers are bidding for spots on next year's list. Among the contenders are American Signature, Ikea, Rhodes, Raymour & Flanigan and W.S. Badcock.
| RANK | COMPANY, HOME BASE & NOTES | ESTIMATED BEDDING SALES IN $ MILLIONS | PERCENT CHANGE | TOTAL NUMBER OF UNITS | ||
| 2003 | 2002 | 2002 to 2003 | 2003 | 2002 | ||
| 1 | Select Comfort, Minneapolis | $428.2 | $311.8 | 37.3% | 344 | 322 |
| Publicly held, vertically integrated airbed specialist selling the Sleep Number brand mattresses and foundations through its stores, e-commerce site, direct-marketing call center and wholesale business (which sells to home furnishings and specialty bedding retailers and the QVC shopping channel). In 2003, introduced its Precision Comfort adjustable foundation bed and an oversized Grand King model. In 2004, is introducing a new top-end model, the Sleep Number 9000, and a sofa-sleeper called the Sleep Number Sofabed. Plans to add 25 to 30 stores this year. Bedding accessories accounted for about 7% of total sales last year. Total revenues in 2003, $458.5 million. | ||||||
| 2 | Mattress Firm, Houston | $260.0 | $234.0 | 11.1% | 310 | 302 |
| Owned by Sun Mattress, an affiliate of Sun Capital Partners. Fiscal year ended Feb. 3. Bedding specialty retailer carrying Sealy and Stearns & Foster in all markets, and Simmons, Spring Air and Tempur-Pedic in selected markets. Stores average 4,000 square feet. In 2003, opened 15 stores and closed seven. Plans a net 25 new stores for 2004. Bedding accessories accounted for about 9% of total sales last year. Total sales in 2003, $285 million, up 7.5% from $265.1 million in 2002. | ||||||
| 3 | Sleepy's, Bethpage, N.Y. | $253.0 | $227.0 | 11.5% | 276 | 248 |
| Bedding specialty chain in metro New York, New Jersey, Connecticut, Pennsylvania, Delaware and Massachusetts. Sales and store counts include seven Kleinsleep stores in metro New York and Sleepy's toll-free telemarketing division. Stores, averaging 4,500 square feet, carry a number of brands, including Serta, Sealy, Simmons, Spring Air, Stearns & Foster, Kingsdown, Chattam & Wells and Aireloom. In 2003, opened 35 stores and closed seven. Plans to end 2004 with 320 stores. Bedding accessories accounted for 10% of total sales last year. Total sales in 2003, $281 million, up 11.5% from $252 million in 2002. | ||||||
| 4 | Sam's Club, Bentonville, Ark. | $240.0 | $210.0 | 14.3% | 538 | 525 |
| A division of publicly held Wal-Mart. Fiscal year ended Jan. 31. Sales and store counts are for U.S. Sam's Club stores only. Carries Serta, and began offering Serta's fire-resistant bedding in May. Opened 13 new units last year. Clubs average 127,000 square feet. Instituted a back-to-basics strategy in 2003 and renewed its focus on small business members. Hardlines sales, including bedding, were $6.9 billion in 2003, up 14.7% from $6.02 billion in 2002. Comparable-store sales increased 5.3% last year, up from 2.3% in 2002. Posted a 10.1% increase in operating profit in 2003. Total sales in 2003, $34.54 billion, up 8.9% from $31.70 billion in 2002. | ||||||
| 5 | Federated Department Stores, Cincinnati | $237.0 | $220.0 | 7.7% | 459 | 456 |
| Fiscal year ended Jan. 31. Includes sales from Macy's East, Macy's West, Rich's-Macy's, Lazarus-Macy's, Goldsmith's-Macy's, Bloomingdale's, Burdines-Macy's and Bon-Macy's. At fiscal year's end, operated 393 department stores and 66 home stores/furniture galleries in 34 states, Puerto Rico and Guam. Began a rebranding effort last August to more fully leverage its Macy's brand by integrating its Rich's and Macy's stores in the metro Atlanta area and changing nameplates to Rich's-Macy's, Lazarus-Macy's, Goldsmith's-Macy's, Burdines-Macy's and Bon-Macy's. Centralized the merchandising and marketing of home products for all 423 Macy's nameplate stores in a new Home Store Division in February 2004. Total sales in 2003, $15.26 billion, down 1.1% from $15.44 billion in 2002. | ||||||
| 6 | Mattress Giant, Addison, Texas | $188.0 | $184.0 | 2.2% | 252 | 230 |
| Bedding specialist with stores in Texas, Florida, Maine, Missouri, Minnesota, Illinois, New Jersey, New Hampshire, Pennsylvania, Rhode Island, Delaware, Maryland, Massachusetts and Wisconsin. Stores carry American Bedding, IBC, King Koil, Kingsdown, Orthomatic, Serta, Simmons, Spring Air and United. In 2003, opened 28 units and closed six. Bedding accessories accounted for 5% of total sales last year. Total sales in 2003, $198 million, up 2.1% from $194 million in 2002. | ||||||
| 7 | Berkshire Hathaway furniture division, Omaha, Neb. | $143.0 | $127.0 | 12.6% | 30 | 27 |
| Owns Nebraska Furniture Mart of Omaha, Neb.; R.C. Willey of Salt Lake City; Star Furniture of Houston; and Jordan's Furniture of Avon, Mass. In 2003, opened a Nebraska Furniture Mart store in Kansas City, Kan.; a Star Furniture store in Sugar Land, Texas; and an R.C. Willey store in Summerlin, Nev. Star carries Serta; R.C. Willey sleep shops feature Simmons, Spring Air and Serta; and Jordan's Sleep Labs feature Comfortaire, Simmons, Sealy, Nature's Rest, Tempur-Pedic, King Koil, Boyd and Stearns & Foster. Plans to open a Jordan's store in Reading, Mass., this fall, and a R.C. Willey store in Reno, Nev., in spring 2005. Bedding accounted for 9.5% of total sales last year. Berkshire Hathaway furniture division's 2003 sales of furniture, bedding and accessories, $1.51 billion. | ||||||
| 8 | May Department Stores, St. Louis | $143.0 | $130.0 | 10.0% | 366 | 358 |
| Fiscal year ended Jan. 31. Includes divisions of Filene's/Kaufmann's, Robinsons-May/Meier & Frank, Hecht's/Strawbridge's, Foley's and Famous-Barr. Store openings in 2003 included two former Marshall Field's stores as Kaufmann's in Columbus, Ohio; one Filene's lifestyle store in Brockton, Mass.; one Meier & Frank lifestyle store in Ogden, Utah; one Hecht's department store in Richmond, Va.; and three Foley's department stores in Houston and Denton, Texas, and Lake Charles, La. Purchased the 62-unit Marshall Field's department store group from Target Corp. in June 2004, along with nine Mervyn's units in the Minneapolis-St. Paul area. Total sales in 2003, $12.74 billion, down 1.9% from $12.98 billion in 2002. | ||||||
| 9 | The Sleep Train, Citrus Heights, Calif. | $140.0 | $84.5 | 65.7% | 105 | 48 |
| Promotional to high-end bedding specialist operating under three retail brands: Sleep Train, Mattress Discounters and Boxcar Bedding, primarily in the San Francisco Bay and Sacramento areas, but also in San Diego. Stores carry Sealy, Stearns & Foster, Simmons and The Sleep Number bed by Select Comfort. Plans to end 2004 with 112 units. Bedding accessories accounted for 5% of total sales last year. Total sales in 2003, $147 million, up 65.2% from $89 million in 2002. | ||||||
| 10 | Rooms To Go, Seffner, Fla. | $140.0 | $130.0 | 7.7% | 95 | 95 |
| Midpriced chain operating 68 regular-format stores, 18 Rooms To Go Kids stores and nine clearance centers throughout Florida and in Georgia, the Carolinas, Tennessee and Texas last year. Stores carry Sealy, Simmons and Nature's Bed bedding. Earlier this year, opened its first Rooms To Go Beds store in Palm Beach, Fla. Plans to open two to three more bedding stores in Florida this year. Bedding sales accounted for about 10% of sales last year. Total sales in 2003, $1.38 billion, up 6.2% from $1.3 billion in 2002. | ||||||
| 11 | Rockaway Bedding, Randolph, N.J. | $111.0 | $104.0 | 6.7% | 162 | 160 |
| Promotional to high-end bedding specialty chain with stores primarily in New York, New Jersey and Pennsylvania. Stores average 3,300 square feet and carry a number of different brands, including Sealy, Simmons, King Koil, Spring Air, Ortho, Lady Americana, Serta and Stearns & Foster. Plans to end 2004 with 175 stores. Bedding accessories accounted for 11% of total sales last year. Total sales in 2003, $125 million, up 4.2% from $120 million in 2002. | ||||||
| 12 | JCPenney, Plano, Texas | $110.0 | $100.0 | 10.0% | 1,020 | 1,049 |
| Fiscal year ended Jan. 31. Also sells online at www.jcpenney.com. Carries Sealy, Serta, Spring Air and ComfortAire brands. Began offering Serta's fire-resistant mattresses in April. Opened six stores and closed 29 last year. Plans to open or relocate 14 stores this year, half as freestanding stores and half in traditional malls. Debuted furniture and bedding in the New York market at its Queens Center store in April 2004. 2003 sales were led by home, especially in window treatments, bedding, housewares and furniture. Comparable-store sales in 2003 were up 3.3%, its first positive comps since 2000. Total sales in 2003, $17.79 billion, up 0.9% from $17.63 billion in 2002. | ||||||
| 13 | Sears, Hoffman Estates, Ill. | $105.0 | $90.0 | 16.7% | 871 | 872 |
| Fiscal year ended Jan. 3. Sales and store counts are for full-line stores only. Offers bedding through 470 stores and online at www.sears.com. Carries Sealy, Serta, Stearns & Foster and Sears-O-Pedic brands. Began offering Serta's fire-resistant bedding in April. Sealy was honored as one of its top suppliers in April. Agreed to acquire up to 54 Kmart stores and seven Wal-Mart units in July 2004. Most of the acquired stores will be converted to a new midsized format modeled on Sears Grand stores. Plans to remodel 116 of its full-line stores this year. Total full-line store sales in 2003, $22.9 billion, down 0.7% from $23 billion in 2002. | ||||||
| 14 | Mattress Discounters, Upper Marlboro, Md. | $100.2 | $199.0 | -49.6% | 110 | 107 |
| Promotional to high-end bedding specialist operating 68 stores in the Washington/Baltimore/Richmond markets; 30 stores in the Boston/New England area; and 12 stores in Pittsburgh last year. Emerged from Chapter 11 bankruptcy protection in 2003. Celebrated its 25th anniversary last year. Stores average 4,078 square feet, and carry Sealy and Simmons. Bedding accessories accounted for about 9% of total sales last year. Total sales in 2003, $110.3 million, down 50.1% from $221 million in 2002. | ||||||
| 15 | Art Van, Warren, Mich. | $96.0 | $97.0 | -1.0% | 30 | 29 |
| Family-owned, midpriced to high-end Michigan chain. In 2003, opened a store in Chesterfield Township in metro Detroit and completed the remodeling of its Southfield store. At the end of 2005, will open a store in Rochester, a suburb of Detroit. Stores carry a number of mattress brands, including Sealy, Simmons, King Koil, Kingsdown, Tempur-Pedic and Stearns & Foster. Bedding accounted for about 17% of total sales last year. Total sales in 2003, $555 million, down 0.9% from $560 million in 2002. | ||||||
| 16 | Dial-A-Mattress, Long Island City, N.Y. | $87.0 | $81.0 | 7.4% | 44 | 45 |
| Privately held bedding specialist and direct marketer with stores primarily in New York, and in Connecticut, California, New Jersey and Maryland. Operates under the name 1-800-Mattress. Also has a dealer network that delivers product sold over the phone. Stores average 2,949 square feet and carry Sealy, Simmons, Serta, Spring Air, Tempur-Pedic, King Koil and Nation's Pride. About 35% of sales come from stores, 62% from telemarketing and 3% from the Internet. Bedding accessories accounted for 5% of total sales last year. Total sales in 2003, $92 million, up 8.2% from $85 million in 2002. | ||||||
| 17 | Slumberland, Little Canada, Minn. | $75.0 | $60.0 | 25.0% | 85 | 74 |
| Family-owned, midpriced retailer specializing in products for the bedroom and great room, with stores in Minnesota, Wisconsin, Illinois, Iowa, Missouri, Montana, Nebraska and the Dakotas. Stores carry Sealy, Simmons, Stearns & Foster and Tempur-Pedic. Opened 11 stores in 2003, including one in Bozeman, Mont., a new state. Bedding accounted for about 24.5% of total sales last year. Total sales in 2003, $305.4 million, up 10.9% from $275.5 million in 2002. | ||||||
| 18 | Sit 'n Sleep, Carson, Calif. | $74.4 | $59.0 | 26.0% | 13 | 11 |
| Owned by Sleep Well. Promotional to high-end Southern California bedding specialist. Stores average 12,000 to 15,000 square feet and carry a number of mattress brands, including Simmons, Sealy, Serta, Spring Air, Miralux, Stearns & Foster, Chattam & Wells, Nature's Rest and Somma Air. Opened two stores in 2003, in Glendale and Norco, Calif. Bedding accessories accounted for 6% of total sales last year. Total sales in 2003, $79.4 million, up 26% from $63 million in 2002. | ||||||
| 19 | Levitz Home Furnishings, Woodbury, N.Y. | $71.0 | $67.0R | 6.0% | 127 | 128 |
| Fiscal year ended March 31. Majority owned by funds and accounts managed by Resurgence Asset Management. Includes 74 promotional to midpriced Levitz stores, and 53 promotional to midpriced Seaman's stores, including 11 Seaman's Kids units. Levitz and Seaman's both carry Serta and Sealy; Levitz also carries Stearns & Foster. Plans to open 11 stores over the next two years. Bedding accounted for about 10% of sales last year. Total sales in 2003, $973 million, up 1.7% from $957.1 million in 2002. | ||||||
| 20 | Costco, Issaquah, Wash. | $68.0 | $60.0 | 13.3% | 318 | 304 |
| Fiscal year ended Aug. 31. Sales figures and store counts are for United States stores only, for the trailing 12 months ended Feb. 15. Also sells online at www.costco.com. Carries Sealy Posturepedic brand and Comfortaire airbeds. Opened its first home furnishings prototype store in Kirkland, Wash., in December 2002, and plans to open its second in Tempe, Ariz., in October 2004. Los Angeles, San Diego and San Francisco are possible future home store sites. Has opened two stores in 2004 through May and plans to open seven to nine more before the end of fiscal 2004. Comparable-store sales for fiscal 2003 were up 5%. Total trailing 12-month sales for 2003, $44.4 billion, up 12.6% from $39.42 billion in 2002. | ||||||
| 21 | Havertys, Atlanta | $67.0 | $57.0 | 17.5% | 113 | 111 |
| Publicly held, midpriced to upper-end chain with 113 stores in 75 cities in 15 southern and central states last year. Carries Sealy and Serta mattresses. In 2003, opened four stores, including one in Bowie, Md., a new state but part of its Washington metro market, and closed one. In 2004, plans to open three stores, including one in Cincinnati, the 16th state for the company. Bedding accounted for 9% of sales last year. Total sales in 2003, $745 million, up 5.8% from $704 million in 2002. | ||||||
| 22 | Wal-Mart, Bentonville, Ark. | $65.0 | $60.0 | 8.3% | 2,949 | 2,826 |
| Fiscal year ended Jan. 31. Sales and store counts are for United States only, including discount, supercenter and neighborhood stores, and excluding Sam's Club units (see No. 4). Has a strong futon program, and offers Simmons Beautyrest mattresses online only at www.walmart.com. In 2003, opened a net 40 discount stores and 213 supercenters, including 130 discount store conversions. Plans to open 230 to 240 supercenters this year, with 150 as discount store conversions. Hardgoods sales last year, including bedding, totaled $34.84 billion, up 10.9% from $31.42 billion in 2002. Total sales in 2003, $174.2 billion, up 10.9% from $157.1 billion in 2002. | ||||||
| 23 | Tempur-Pedic, Lexington, Ky. | $60.0 | $39.0 | 53.8% | NS | NS |
| Sales figures for the publicly held, direct-to-consumer U.S. manufacturer/retailer of visco-elastic foam mattresses are for mattresses only. Founded in 1989 after years of research building on a formulation developed for use by NASA. The vertically integrated company sells online at www.tempurpedic.com and through its call centers. Targets consumers through TV, radio, magazine and newspaper advertisements. Offers an online wedding registry for the purchase of any Tempur-Pedic product. Total sales in 2003, $479.1 billion, up 60.7% from $298.2 billion in 2002. | ||||||
| 24 | Big Lots, Columbus, Ohio | $58.0 | $40.0 | 45.0% | 1,430 | 1,380 |
| Fiscal year ended Jan. 31. Sales and store counts are for Big Lots closeout stores and Big Lots Furniture stores. Offered bedding in 889 stores at the end of 2003. Includes futons sales of $3 million in 2003 and $2 million in 2002. Added California king-sized bedding to its offerings last year. Brands include Colony, Charleston, Patriot and Williamsburg, manufactured by IBC. In June 2004, opened a 1.2 million-square-foot distribution center in Durant, Okla., its fifth. Posted its second consecutive profitable year in 2003. Comparable-store sales were up 3.4% last year. Total sales in 2003, $4.2 billion, up 7.9% from $3.9 billion in 2002. As of July 2004, sold bedding in 1,003 stores. | ||||||
| 25 | Sleep Country USA, Kent, Wash. | $53.0 | $47.0 | 12.8% | 49 | 49 |
| Owned by Simmons Co. Operates specialty sleep shops in metropolitan Seattle and in the greater Portland, Ore., area. Stores carry Simmons, Sealy, Spring Air, Stearns & Foster and Chattam & Wells brands. Stores average 5,000 square feet of selling space. Bedding accessories accounted for 8% of total sales last year. Total sales in 2003, $57.9 million, up 12.6% from $51.4 million in 2002. | ||||||
| All sales information, except for that supplied by publicly held companies that break out bedding sales, are Furniture/Today market research estimates. All data are for calendar 2003 and 2002, unless otherwise noted. Source: Furniture/Today market research. R = Revised NS = No Stores |
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