Mattress Firm
- Thread starter RunRonnieRun
- Start date
Couldn't see that coming. Frisco, Texas - population approx 150k - at least 8 Mattress Firms within the city limits as recently as 4 or 5 years ago. Now down to 3, but their locations make no sense. There are 2 that are, literally, within 3 miles of each other.
Over saturation showing the detriment there.
Over saturation showing the detriment there.
Why would you change your company name and lose name recognition? Aside from the fact that "Sleep Firm" sounds stupid.
They moved into Tallahassee and immediately opened three stores, followed by Mattress One who opened up two. Dumbest business plan I have ever seen. People buy new mattresses less frequently than cars and we already had a half dozen places to buy mattresses. I never see any cars or people at any of the stores here. They paid ridiculous prices for their locations too. Five new mattress stores in about two years. It was obvious this was going to happen.
We've been talking about it often. According to his bosses, this is more than a reorganization than a bankruptcy. Mattress Firm is the largest mattress chain in the country by a wide margin. They got this way by buying out other chains and rebranding them as Mattress Firm. In markets where they had no presence, it's not a big deal. In those where there were already Mattress Firm stores it often resulted in stores being across the street from one another leading to unprofitable locations. It is those stores that are being shuttered.
As for my son personally, he's been told by those above him that he's fine. Right now they're working on getting someone to replace him where he is currently in NW Ohio so he can go to a brand new market in Michigan to open seven new stores. He's still on the fast track within the company if he chooses to stay with them.
Coolest thing about the capitalist system to me is how these kind of errors are inevitably corrected. Eventually they’ll run out resources to keep it up if they don’t alter their plans and the resources will be put to better use by others.
No amount of decrees from the CEO can change that. In the end they’re slaves to the customer.
The margins for mattresses and furniture, in general, is insane. That’s why there are 10 million mattress stores
It's also why my son makes good money. You can negotiate what you think is a good deal and there's still enough margin left for him to make his.
I just figured Mattress One and Mattress Firm were Russian money laundering fronts.
62Nole
Seminole Insider
Marlon Brando (The Godfather) and the gang had so many choices and saved enough money to mount race horse heads.
I’ve always assumed they are fronts for laundering money, based on how little traffic goes through them.
NYC has a ton of Mattress Firm stores, I've always wondered why. I guess it being such a high margin store makes some sense but at NYC rents, those massive footprint stores have to be doing some real business.
I used to live right across from one. Honestly never saw anyone in there, not even salespeople.
I'm sure online sales has dented the brick and mortar business a bit, but I can't imagine it's that much of a dent (yet).
I've always bought mattresses from less reputable vendors b/c it's cheaper. I can sleep on anything so never really cared much.
I used to live right across from one. Honestly never saw anyone in there, not even salespeople.
I'm sure online sales has dented the brick and mortar business a bit, but I can't imagine it's that much of a dent (yet).
I've always bought mattresses from less reputable vendors b/c it's cheaper. I can sleep on anything so never really cared much.
How many different online mattress companies are there now?
- Casper
- Tuft and Needle
- Layla
- Saatva
- Nectar
- ZenHaven
- Cocoon (a Sealy co)
- Purple
- Puffy
- Leesa/Sapira
- Bear
- Helix
- Oso
- Tulo (can try at MattressFirm, buy online)
- Snuz
- EightSleep smart mattress
I've gone from rooting for mom & pop locally owned business out of sympathy, to rooting for brick & mortar corporates out of the same sense of sympathy.
