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

United States United States Latest News, United States United States 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 »