Sleep Country Canada Grows
Sleep Country Downgraded In this trying times, companies like Sleep Country, which is currently experiencing a slump based on this report below, is expected by marke...
Donate School Supplies at this Mattress Store Until September 16th, Sleep Country USA, is accepting donations of school supplies like pencils, notebooks, papers, rulers, crayons, ring bi...
Sales for Sleep Country Canada has been very brisk in the three past months that, despite unfavorable general market conditions…
Sleep Country Canada Income Fund says its third quarter profit increased nearly 14 per cent on higher sales.The Toronto-based mattress company said net income was $10.9 million or 78 cents per share in the three months ended Sept. 30 compared to $9.65 million or 69 cents for the same period last year. Sales in the quarter were $104.7 million compared to $97.75 million in the 2006 period.
The company (TSX: Z.UN) also said it would increased its cash distributions to $1.45 per trust unit per year from the current annual rate of $1.40 per unit, starting with the November distribution to be paid on Dec. 20.
Sleep Country said the monthly distribution rate will rise to 12.08 cents per unit from 11.67 cents per unit.
Same-store sales for the fund’s Canadian operations was 1.7 per cent for the first nine months of the year.
“We believe the mattress market continues to demonstrate an uncharacteristic level of market weakness in 2007,” said company chairman and chief executive Stephen Gunn.
“We believe growth has been flat during the year compared with historic growth rates of five per cent to six per cent. We are pleased that, even in such tough market conditions, the Canadian business continues to deliver solid levels of sales and EBITDA (earnings before interest, taxes, depreciation and amortization) growth.”
Added company president Christine Magee: “Sleep America continues to operate in a challenging market environment and there are no indications signalling the timing of improved conditions.”
Sleep Country Canada Income Fund is the largest retailer of mattresses in Canada with 124 corporate owned stores in eight regional markets under the Sleep Country banner, and 23 stores in Quebec under the Dormez-vous banner.
The Fund also owns Sleep America, the largest mattress retailer in Arizona with 42 stores.
On Monday, the fund’s units traded up 34 cents at $22.75 on the Toronto Stock Exchange.
via The Star Business
Mattress Standards in Canada remains the same New mattress standards will go in effect today, July 1st, in the USA. Will neighboring Canada follow suit? Exporters from that area are comp...
Odd Job: Mattress Tester I didn’t think there is an actual job as a mattress tester but I am actually mistaken. The thought came to mind when I asked my young ...
The different kinds of bed frames Canopy - dramatic and fits right into a traditionally themed bedroom. Poster Bed -mostly for people who are also keen on bedroom elegance....
Bed Frame with Recycled Car Springs Priced at $1400, is supported by recycled car springs. TrendHunter spotted this furniture while shopping in Canada in a store named UpToYou....
Delia Ripple Bed The elaborately designed handmade steel bed is of natural finish and go very well in a country or whimsical-themed bedroom. The bed frame s...
Oscar Dela Renta’s Kingsdown Mattress Oscar Dela Renta designed the Kingsdown Mattress with impeccable quality, as much as he does when designing haute couteur. He did away with ...
Graco Travel Cot with Vibrating Mattress
Tags: fun, mattress company, mattress retailer, sleep, sleep country canada, three months