Select Comfort Q1 Net Falls 27.6 Percent

Select Comfort

MINNEAPOLIS-Although sales posted a strong gain, Select Comfort’s first-quarter net income dropped 27.6 percent to $17 million. Significant increases in costs hurt the mattress manufacturer/retailer’s bottom in the quarter, which ended on March 29. Total operating expenses increased 13.6 percent in dollars and 310 basis points as a percentage of sales. During a conference callMore »

Last updated: April 18, 2014

Sleep Train Deals for America’s Mattress

Sleep Train Expands with Purchase of Sleep City Locations

SACRAMENTO, Calif.-Mattress retailer Sleep Train has entered an agreement to acquire America’s Mattress, a Hawaii based mattress specialty retailer. The acquisition will bring nine America’s Mattress stores into the Sleep Train fold. It is expected to close on April 23. Financial terms will not be disclosed. Sleep Train is the parent company of Sleep TrainMore »

Last updated: April 11, 2014

Mattress Firm Closes on Sleep Experts Purchase

Mattress Firm

HOUSTON-Mattress Firm has completed its acquisition of the outstanding partnership interests in Sleep Experts Partners. With this purchase, according to a Mattress Firm statement, the company expects to operate an additional 55 stores in the Dallas and Austin, Texas, markets, already two of the company’s core markets. The acquisition is also expected to advance MattressMore »

Last updated: April 4, 2014

Ares, Serta and Simmons Parent, Launches IPO

Ares Management

NEW YORK-Ares Management, one of the parent companies of mattress manufacturers Serta and Simmons and of retailer Neiman Marcus, has begun an initial public offering, according to a filing with the U.S. Securities and Exchange Commission. The filing did not specify how many shares are in the IPO, or the price per share, nor didMore »

Last updated: April 2, 2014

New CFO, HR Head for Select Comfort

Select Comfort

MINNEAPOLIS-Select Comfort has named David Callen senior vice president and chief financial officer, and has appointed Patricia Dirks senior vice president and chief human capital officer. In his new role, Callen is in charge of leading the company’s finance team and advancing the company’s financial growth plan. Dirks is responsible for all human resource functionsMore »

Last updated: March 20, 2014

Sealy’s Rogers to Retire

Lawrence Rogers

LEXINGTON, Ky.-Lawrence Rogers, president and CEO of Sealy, will retire effective April 5, after a 34-year career with the mattress company. Rogers’ responsibilities will be moved to Tim Yaggi, chief operating officer of Tempur Sealy, Sealy’s parent; and to David Montgomery, executive vice president and president, international. Meanwhile, Rogers has been elected to the TempurMore »

Last updated: March 19, 2014

Serta Slates Loyalty Program

Serta Teams with City of Hope to Support Cancer Research

HOFFMAN ESTATES, Ill.-Serta is planning to unveil its Serta VIP Rewards consumer loyalty program in May. The program will invite a shopper who purchases an iComfort or iSeries mattress to enroll and earn up to $1,000 toward his or her next Serta mattress purchase. A Serta VIP Rewards member will earn his or her firstMore »

Last updated: March 12, 2014