Bedding specialty stores stars of Top 100
By Furniture Today Staff -- Furniture Today, May 27, 2007
High Point — The 10 bedding specialty stores were the shining stars of this year's Top 100 with a combined sales gain and store growth that markedly outpaced every other subcategory of this year's list.
The group is typically a top performer, but this year the bedding specialists outdid themselves with a 19.8% sales increase to $2.96 billion from $2.47 billion and a 12.1% gain in store count — up a net 266 stores — to 2,462 units.
Those results clobbered the combined Top 100's 6.6% sales increase as well as the percentage growth for every subcategory on the list, including the Top 10, which grew sales 9%, and the single-source store networks, which grew sales 9.6%.
No. 12 Select Comfort is still the largest of the bedding chains as sales grew 15% to $735 million. But this year, the spotlight turned to No. 28 The Sleep Train, which posted the largest percentage gain (up 70.6% to $344 million) and the greatest net change in store count (up 79 stores to 200 units) of any Top 100 company. Those results also propelled the Citrus Heights, Calif.-based retailer up the Top 100 ranks by 13 spots from the previous year — tying none other than No. 51 1800mattress.com, formerly referred to as Dial-A-Mattress, for the biggest leap among all stores on the list (outside of newcomers).
Sleep Train on a roll
The Sleep Train's gain came in part through the acquisition of Sleep Country USA, the 55-store Kent, Wash.-based retailer that had been the 11th bedding chain on the Top 100 until this year. Sleep Train, however, also opened 27 other stores last year, and has plans for 35 more this year.
Sleep Train was one of six bedding specialists scoring double-digit sales increases, with the next-best gain coming from No. 21 Mattress Firm, which grew 23.9% to $441 million.
Three chains posted single-digit gains that fell below the combined percentage increase for all Top 100 companies — No. 37 Mattress Giant (up 4.5%); No. 72 Sit'n Sleep (up 4.8%); and No. 54 Rockaway Bedding (up 5.9%). Randolph, N.J.-based Rockaway is bound to take a much bigger hit this year after its April 9th Chapter 11 bankruptcy filing and its plans to close or sell off all but about 50 to 70 of its stores, refocusing mostly on New Jersey markets.
The only bedding chain to post a net store count decrease this past year was No. 36 Serta-Exclusive Sleep Shops, which hasn't lived up to its expectations for the past two years. Last year, the Serta chain, which operates under a variety of store names, including America's Mattress, said it would open more than 100 Serta-only shops. But it ended up closing 117 stores and opening 76 units for a net 41-store decrease.
This year, the company said it will open more than 66 sleep shops.
The bedding specialists that did expand significantly in addition to The Sleep Train were No. 18 Sleepy's, which added a net 50 stores (and has made a bid on the Rockaway chain); 1800mattress.com, up 49 stores; Select Comfort, up a net 46 units; and The Mattress Firm, up 44 stores.
Part of Houston-based Mattress Firm's growth came from the 23-store acquisition of Chandler, Ariz.-based Metropolitan Mattress.
| Top bedding specialists | ||||||
|---|---|---|---|---|---|---|
| Ranked by sales of furniture, bedding and accessories | ||||||
| Estimated furniture, bedding, accessory sales in $ millions | Number of units | |||||
| Rank | Company | 2006 | 2005 | Percent change 2005 to 2006 | 2006 | 2005 |
|
Source: Furniture/Today's Survey of Top 100 U.S. Furniture Stores
|
||||||
| 12 | Select Comfort | $735.0 | $639.2 | 15.0% | 442 | 396 |
| 18 | Sleepy's | 455.0 | 394.0 | 15.5 | 425 | 375 |
| 21 | Mattress Firm | 441.0 | 356.0 | 23.9 | 358 | 314 |
| 28 | The Sleep Train | 344.0 | 201.6 | 70.6 | 200 | 121 |
| 36 | Serta-Exclusive Sleep Shops | 241.6 | 210.0 | 15.0 | 359 | 400 |
| 37 | Mattress Giant | 231.0 | 221.0 | 4.5 | 250 | 235 |
| 51 | 1800mattress.com | 153.0 | 110.0 | 39.1 | 94 | 45 |
| 54 | Rockaway Bedding | 143.0 | 135.0 | 5.9 | 185 | 180 |
| 63 | Mattress Discounters | 119.0 | 111.3 | 6.9 | 133 | 115 |
| 72 | Sit 'n Sleep | 98.5 | 94.0 | 4.8 | 16 | 15 |
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