Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Mattress Firm overdid itself by opening and operating multiple stores in the same block in many trade areas in many markets. Two hundred stores closing should be a start of a correction to reducing store count and operating a quantity of profitable stores.
I sometimes ponder why some of these businesses exist. The proliferation of mattress stores has become a running joke. The Subways in Wal-Mart stores may have one or two customers at lunch time. I really do wish everyone well in business and this is a tough time for these announcements. I think just too much easy money is coming from somewhere to back them with poor wisdom being used.
Mattress Firm overdid itself by opening and operating multiple stores in the same block in many trade areas in many markets. Two hundred stores closing should be a start of a correction to reducing store count and operating a quantity of profitable stores.
Well the goal is to snuff out all the competition - Mattress Firm has done this successfully by buying up Sleepy's and other mattress stores. Now that they have the market cornered in certain places like here in Raleigh, they can afford to close some of their stores.
-Ex Sleepy's in New Hope Commons (which Ironically enough, started out as a Mattress Firm)
-Indigo Corners, which is right across the street
-Gateway Terrace superstore, which I believe did a brief stint as MattressPro
-The location in front of the pickle, next to Starbucks.
That's four locations in less than four miles.
Additionally, they have two stores at North Pointe (across from Costco). If they both operate as one store, then it will be safe. If they are two separate stores, then they need to close one there as well!
Subway had three in that same distance, but they closed the one at Patterson Place. I don't go to Subway anymore; their quality has gone downhill and they discontinued the $5 Footlong (I'm aware that they're addressing the latter problem, but thaf still doesn't address the fact that I can get a better sub at a grocery store deli)
Last edited by Renownedtheworldaround; 12-23-2017 at 06:30 AM..
What I heard was that Mattress Firm was bought out by an overseas buyer.
Perhaps the giant number of stores was a plan to make an attractive buyer think they were obtaining a major position in the US mattress market.
When the buyer learned what was really going on, they started trying to straighten out the mess they inherited.
They are owned by an overseas company, but that company is in the middle of a huge financial reporting scandal as well and I don’t think that they were adding stores as part of a sale enticement . I heard a story on the radio about it last week and the article in the post above mine touches on it and at least an allegation that a group of real estate execs from inside Mattress Firm conspired to add stores in expensive leases to enrich themselves and developers they were friendly with. Having worked in the construction and real estate division of a large company, I can see how this might be possible if the right people were doing it and the corporate oversight was lacking in key areas.
The sale of mattresses online IS being accepted by consumers. Longterm, that is going to affect the retail storefront stores in a big way, imho.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
