Previous entry: The Weekly Content Calendar Next entry: A Boost in Productivity: the Benefit of Marketing AutomationSteinhoff completes cash offer for Mattress Firm stock Steinhoff International Holdings has completed its tender offer for all of Mattress Firm's outstanding common stock, bringing the South African conglomerate a step closer to acquiring the Houston-based bedding retailer. Early last month, Steinhoff offered to buy Mattress Firm for $64 per share in cash, a substantial premium on its stock value before the announcement. Steinhoff will complete the proposed merger upon payment, according to a news release. RELATED: Mattress Firm sales softer as closing of deal approaches With the $2.4 billion deal, Steinhoff would immediately gain a significant share of the U.S. mattress market. Mattress Firm has acquired a number of its competitors in recent years and now operates 3,482 stores. Last week, Mattress Firm reported a $2.2 million second-quarter loss as same-store sales slipped by 1.1 percent over the same period a year earlier.
But sales during the quarter rose to $980 million, up 48 percent from $661 million during the same period last year, partly as a result of the acquisitions. "We remain excited about the future opportunities for our business as we build a national chain in the U.S," Steve Stagner, Mattress Firm's executive chairman and board chairman, said in a statement at the time. "We are also moving towards the completion of our transaction with Steinhoff, and believe Steinhoff is the ideal long-term partner for our customers, employees, suppliers and other stakeholders."EXPECT MORE FROM THE ONLY MATTRESS PROFESSIONALS!Consumers are quickly becoming more comfortable buying mattresses without ever trying them out. In fact, the latest Consumer Reports' mattress survey shows that many people bought their mattresses at retailers with few brick-and-mortar outlets or that sell mattresses online, and they like what they're finding. Of the four mattress stores that scored highly in our mattress store Ratings for overall satisfaction, Original Mattress Factory has stores in just nine states (though it ships to most).
Costco stores display mattresses standing up, which makes them difficult to try, and sells more than half of its mattresses online. and QVC, don't sell mattresses at walk-in stores at all. The 20,000 subscribers surveyed were the least satisfied with Big Lots, a discount retailer with more than 1,400 stores in 47 states. Subscribers who shopped there were particularly displeased with that chain’s mattress selection and the cleanliness of floor models; they were also among the most likely to report shopping-related problems. Just slightly better was Sleepy’s, which was lowest rated in 2013, the last time we asked our subscribers about mattress stores. Sleepy’s is now owned by Mattress Firm, which placed in the middle of the pack in our Ratings. But much like Sleepy’s, it also gets dinged for its prices. (Check out the best and worst mattress brands.) Before you shop, check our exclusive brand and retailer Ratings, use our mattress buying guide, and review our Ratings of almost 60 innerspring, foam, and adjustable-air mattresses.
Major Mattress Retailers Don't Impress In our survey, traditional sellers, mattress chains, and department stores fared the worst. Our subscribers shopped mostly at Sleep Number mattress stores, and that retailer scored well except for price. Macy’s did about the same but with one notable difference: Eight percent of respondents who shopped at Macy’s, as opposed to just three percent for Sleep Number, said they'd buy from a different retailer given the chance to do it over again. But Macy's wasn't the only retailer that left some respondents wishing for a do-over. Shoppers were even more dissatisfied with their experiences at Big Lots, Rooms to Go, Sleepy's, Mattress Warehouse, and JC Penney. In our survey, we also asked subscribers to tell us about the stores they rejected. In other words, they shopped there for a mattress but changed their mind and bought elsewhere. Here, too, is worrying news for traditional retailers. Of those subscribers who shopped around for a mattress, 11 percent rejected Macy’s, 10 percent rejected Sears and Mattress Firm, 9 percent said no to Sleep Number, and 8 percent rejected Sleepy’s.
Price is what seals the deal for many shoppers, and Amazon, Costco, IKEA, and Walmart got excellent marks on that score. None of the retailers got top marks for selection, although eight did very well and only one, Original Mattress Factory, aced the Service score. Where do you shop? Tell us whether you buy online or at a store. The company set out to be a different kind offocused on creating a unique shopping experience for the customer with a large selection of quality, brand name bedding products, competitive pricing and knowledgeable, Over the next several years, Mattress Firm grew to new heights, with the addition of corporate owned and franchiseBy 2002, the company owned and operated approximately 250 locations across the United States and was considered the Find Business Hours for all Mattress Firm locations by State: Mattress Firm Hours and Locations by State Find Business Hours for all Mattress Firm locations By City:
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Choose from major brand-name mattresses in various sizes or from our own high-quality mattress lines. Our online mattress inventory simplifies the shopping process, allowing you to find the best mattresses without having to make it to the store. We make mattress shopping easy, so you can get back to the important things in life, like sleeping on your new mattress. Variety: Thick pillow top mattresses and spacious king and queen size mattress options provide added luxury and maximum space for couples or anyone in search of support, comfort, and room to stretch out. We also offer several lines of twin mattresses, single mattresses, and full size mattresses. In addition to pillow top mattresses, available mattress styles include low profile, plush, memory foam, and firm. Many of our mattresses are made from durable materials that limit motion transfer and promote healthier, deeper sleep. Value: Take comfort in purchasing a memory foam mattress or king size mattress from Rooms To Go, because we understand the importance of both look and feel when it comes to any kind of furniture, especially when it involves comfort.