Sleep Country earnings rise as direct-to-consumer brands help buffer softer spending

TORONTO — Sleep Country Canada Holdings Inc. says it earned $15.8 million in its second quarter, up from $12.7 million a year earlier.

The Toronto-based company says its revenues for the quarter were $232.5 million, up from $217.2 million during the second quarter of 2023.Sleep Country president and CEO Stewart Schaefer says the company's direct-to-consumer lines were what primarily drove growth during the quarter, as consumers looked for promotions and lower prices.

Schaefer says the trend of consumers trading down to lower-priced mattresses has continued into the third quarter, but the company is well positioned to weather the continued economic pressures weighing on consumer spending. Last month, Sleep Country announced a $1.7-billion deal that if approved, will see Fairfax Financial Holdings Ltd. buy the retailer and take it private.The Canadian Press

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sleep Country earnings rise as direct-to-consumer brands help buffer softer spendingTORONTO — Sleep Country Canada Holdings Inc. says it earned $15.8 million in its second quarter, up from $12.7 million a year earlier.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »