Shopping Centers Today

NOV 2016

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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T he retailers of specialty mattresses are hardly rest- ing on their laurels or on their beds. "This sector is still growing by leaps and bounds," said Spen- cer Bomar, an Atlanta-based principal at Avison Young and head of the firm's retail group. The two biggest mattress retailers in the U.S. are Mattress Firm and Select Comfort. Mattress Firm alone operates about 3,500 corpo- rate-owned and franchised stores under its own name and the Sleepy's and Sleep Train banners. There are also regional chains, local operators and new entrants competing for their share in an industry that generates an estimated $12 billion in revenues yearly, according to IBISWorld. The mattress business is seeing a convergence of trends that includes ongoing expansion, consolidation and product innovation. "There has been a fair bit of consolidation in the industry," said John Baugh, a managing director at Stifel, a financial management and investment banking firm based in Richmond, Va. Houston-based Mattress Firm has been lead player in this consolidation. The company has been buying up smaller com- petitors, including the parent companies of BedMart, Mattress Giant and Mattress King. In February Mattress Firm com- pleted its most recent acquisition, the $780 million purchase of the Sleepy's chain. But at press time Mattress Firm was itself on the receiving end of a bid, from South Africa–based Stein- S T O R E F R O N T S Mattress stores' profitability helps landlords sleep soundly COMFORTABLE PROFIT HOME GOODS By Beth Mattson-Teig W H AT T HE T E N A N T S A RE UP TO 18 S C T / N O V E M B E R 2 0 1 6 DEER CREEK WINERY PICKS SHOPPING CENTERS FOR ITS STORES 20 A T EN A N T T H AT H A S IT S CUSTOMERS CLIMBING T HE WA L L S 26 WALMART IS SLOWING ITS STORE GROW TH TO FOCUS ON SPEEDING SALES 26

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