This week we bring you a Good News Column. We promise you will not find a negative number here. No sales declines or sales slumps will worry us.
We are taking this positive tour through Mattressville because, well, things are generally positive in the industry these days. And that’s a refreshing place to be as Furniture Today’s online Bedding Conference, set for Aug. 18-20, draws closer. More on that shortly.
Let’s consider three news stories that recently crossed my desk. (Actually, it’s a dining room table in my makeshift home office, but I digress.)
First, Raymond James reported fireworks in the bedding industry over the July Fourth holiday. The firm, whose thoughtful coverage I follow closely, noted that the bedding industry’s recovery is continuing this month.
Raymond James offered this assessment of its channel checks:
“Positively, the majority of our checks were favorable and indicated overall business remains strong in the mattress industry, with our checks referencing year over year growth and some even mentioning trends accelerating from earlier in June. It appears the strong recovery the industry experienced in mid-May and June has carried forward into early third quarter.”
Second, in its release of its second-quarter results, Sleep Number reported high-single digit demand growth for the last two months of the quarter combined. It said that more than 95% of its retail stores are now open, compared with 53% that were open on average during the second quarter.
“The mission of Sleep Number has never been more important or more relevant than it is today,” said Shelly Ibach, Sleep Number’s CEO. “The pandemic has heightened individuals’ concerns about their immunity and resilience, and there is increased understanding that sleep is vital for healthy living.”
Third, Soft-Tex recently announced that it has more than doubled its production capacity at its Waterford, N.Y., factory and through other U.S.-based production partners in response to surging demand for its products.
The company said the moves are part of its commitment to continued expansion of U.S.-based supply chains for its bedding product lines. It said that fiber-filled and hybrid pillows and products featuring its proprietary cooling and antimicrobial technologies, among others, are driving growth at Soft-Tex.
Taken together, those stories paint a picture of a mattress industry seeing an upturn in sales, enjoying strong demand for unique products and benefitting from consumers’ increasing awareness that better sleep yields better health.
Those are three compelling story lines as we set the stage for our upcoming Bedding Conference. And they are positives that our industry needs to build upon as it looks ahead to the key Labor Day sales that lie ahead.
We will have three days of critical bedding insights ready to share with you at the Bedding Conference. Doug Lipp will inspire you with lessons from Disney in a dynamic keynote address.
Gene Marks will combine wit and wisdom as he provides practical advice for business owners and leaders. Mike Magnuson will unlock the keys to success in the online world.
And there is so much more. Go to BeddingCon.com to find our full agenda and to register for this exciting event. I’ll see you there — online, of course.