Loree brings significant consumer durables and retail channel experience, having served in C-suite roles at Stanley Black & Decker, Inc. for almost 25 years, including serving as the company’s CEO from 2016 to June 2022.

During his tenure, Loree led growth strategies to increase revenue from $2 billion to $16 billion. Under Loree’s leadership, the company enhanced its advanced manufacturing capabilities, increased operational excellence and responsible business practices, and was recognized as a best workplace for innovators as well as for diversity and inclusion.

“It’s been a privilege to serve as Interim CEO, and I’m proud of the entire SSB team’s commitment to our turnaround efforts,” says Genender. “Over the last eight months, we have successfully relaunched a large portion of our product portfolio, enhanced critical retail relationships, initiated national advertising campaigns, and improved service levels and operating metrics across our plant network. These accomplishments have only been possible through coordination and teamwork across all functions of the organization. We are beginning to see the success of these efforts through regained market share, and we are well positioned for future growth and success.”

I am honored to have the opportunity to lead the Serta Simmons Bedding team into the next phase of our company’s turnaround, grounded in progress and profitable growth,” says Loree. “Mark and the leadership team have laid a strong foundation for success, and I look forward to building on the turnaround strategy and developing a strong culture of accountability focused on driving financial results.”

“Jim’s appointment follows a thoughtful search for a permanent CEO by our board of directors. We are confident he is the right choice to help us continue accelerating our turnaround efforts and drive financial results,” Genender adds. “He brings deep experience from Stanley Black & Decker and General Electric and a record of delivering operating and financial results, and I look forward to working closely with him as board chairman as we continue to expand our business and drive profitability.”

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Hooker Furnishings’ Barefoot five-seat modular sectional and ottoman are generously scaled with extra-deep seating comfort. This transitional track-arm design with loose back cushions invites you to float barefoot in a cloud with its plush pillow-pad cushions wrapped in an ultra-soft white faux fur. Designed to accommodate a variety of spaces, modular configurations include a four- or five-seat sectional and a two- or three-seat sofa. This is an exclusive Las Vegas Market introduction. Showroom: A-236

New this winter from Horizon Home Furniture, the Marina wall unit is made of Rosewood solids and veneers. The 76-inch-long console has a natural lacquer finish and oversized door pulls. The line is also available in bedroom, occasional and matching upholstery. Showroom: B-106

Union Home Furniture’s three-legged Cora Large coffee table made from FSC Certified Oak wood in a natural finish with three white marble table legs presents understated elegance. Showroom: C-456

Parker House’s Canterbury six-piece modular zero-gravity sectional in Acorn brown leather features all-power headrests, power zero-gravity recline, and home button memory. Console comes complete with tilt cupholders, USB/USB-C ports and a conveniently located power outlet. The supple Acorn Brown leather with custom match features a rich tufted stitch design and is also available in a Pewter leather colorway. Showroom: A-854

A nod to the 1920s beloved tuxedo arm silhouette with the arms and back at the same height, Raine from M, a Hooker Furnishings brand, is available in a wide selection of premium fabrics and leathers. The classic silhouette is accentuated with tailored welting, much like a tuxedo. Showroom: A-236

Twin Star Home’s Breya 70-inch-long TV stand houses a ClassicFlame Electric fireplace that warms up to 1,000 square feet and features patented Safer Plug fire prevention technology that monitors the temperature of the plug and shuts off automatically if the plug gets too hot. Patent-pending 3D Flame Effect creates a realistic flame effect that can be used with or without the heat. The new deconstructed insert means maximized container loading and resulting optimized price points. Showroom: A-830

By the makers at Van Thiel, known for their antique-inspired pieces and hand-applied finishes, this piece by Four Hands is influenced by a Scandinavian antique. The grand-scale cabinet features drawers and 12-inch-depth wine storage behind bronze mesh doors. It features subtle distressing throughout for the look of an heirloom. Showroom: B-201

The Wooden Polyhedron Chandelier from Bobo Intriguing Objects is an exclusive art deco piece with an unexpected lightweight design. The polyhedron frame is made of oak with a natural finish and includes an iron chain and canopy. It comes in three sizes — small, medium and large. The company is making its LVM debut since its purchase by Hooker. Showroom: A-236

Zuo’s Castelo coffee table combines durability, charm and functionality to make it a remarkable statement piece that adds a touch of grandeur and modern luxury to any environment. Showroom: A-216

Fusion Designs will once again expand its popular Essentials quick-ship program, which features bench-built solid wood furniture designs customized in a choice of 35 hand-wiped finishes shipped to retailers in just 10 days. New this market is the Platte River Occasional Collection, with a sofa table, lift-top coffee table and end table with a casual contemporary vibe. Showroom: B-670

From the soft, supple upholstered seat to the curved lines of the iron base, Howard Elliott’s Kenmare bench creates a sophisticated and luxurious seating option suitable for a variety of spaces. Showroom: A-224

The Brennan sideboard by Dovetail Furniture balances style and functionality. Crafted from solid oak wood and finished in a sophisticated black hue, the piece’s small details blend modern design and timeless beauty. Showroom: B-159

With over 30 years of experience in the industry, YHX Sofa will debut several motion seating collections this market. Showroom: B-601

Veko Home’s Martin modular collection is a statement of modern functional design. It’s ample and low profile shape rests on chrome legs with complex geometry to highlight. Showroom: B-601-56

Modus Furniture’s Elora upholstered bedroom collection features a contemporary style, with a curved shape in charcoal fabric. Showroom B-570

Whittier Wood Furniture’s Catalina bedroom collection in American White Oak includes the company’s signature real wood materials and intelligent storage solutions with modern design aesthetics. Showroom: B-601-66

The Carina media sideboard from Essentials for Living is crafted out of solid oak wood and features a cane front inlay with a wood border and soft close doors. With two storage cabinets and adjustable shelves, it’s both stylish and functional. Showroom: B-600

International Furniture Direct’s Patagonia collection is made to enhance the appearance of any room without being too overpowering. Showroom: A-826

Perfect for use in pairs and beautiful from every angle, the Suni swivel chair from HF Custom sits atop a wood base. It features an armless silhouette with a plush seat cushion. It is fully customizable in a selection of more than 500 fabric options. Showroom A-236

Pulaski Furniture’s Ashby Place collection includes this dining set, which is made with quartered ash veneers in a Reflection Gray finish. The light and airy finish is complemented by silver-tone metal details, adding to the sophisticated aesthetic. Showroom B-270B.

This dining set is part of the Griffith collection by Drew and Jonathan Home. It is made with split heart oak veneers and rubberwood solids and features aged pewter hardware. Showroom B-270A.

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Living in Maui and working in Lahaina, Hawaii, in the 1990s, Odland sold jewelry until a unique problem befell the state when 9/11 happened. Suddenly, no one was flying and tourism numbers dropped by 50%-60%, which meant Odland’s business was in trouble. 

Moving back to the mainland, he started working for a mattress retailer and quickly became interested in the business. With his extensive business knowledge, he knew he could open a mattress shop of his own, and in 2019 opened the first location in Port Orchard. 

While Covid didn’t help with getting his business set up, Odland says the store continued to improve every year, almost month over month. That hard work led to a second, larger location — which includes warehouse space in addition to a showroom — opening up in Bremerton, Washington, in 2021.

One of the things that he says has helped with his success is not racing to the bottom and trying to focus on the fact that sleep is important to a person’s overall health and wellness. 

“I love that we’re spreading the word about how sleep affects everything,” he says. “It’s starting to become better known that sleep is just one of the key ingredients to better health and wellness and performance and everything. At the University of Washington, the athletes have places they can go and take naps.”

For that reason, he has invested in brands that he believes hit the right price point and offer the right sleep systems for his customers. These include BeautyRest, Serta, Englander, Sutherland, Bed Tech and Bedgear — a new addition Odland is excited to see results from.

However, he says marketing can be challenging, especially because of things changing so quickly with new technologies like AI. In addition, his location presents a challenge because they are across the water from the largest city in their vicinity, Seattle. 

“TV commercials or radio commercials are not going to show over in Seattle, and part of our issue is that because we’re across the water and we did buy in Seattle, people from there don’t want to jump on a boat over to us when there are 30 stores right near them.”

Despite this, Odland looks on the bright side and takes advantage of the opportunities the location offers, like the crowds of people the Puget Sound Naval Shipyard near the store brings in. 

“That causes a massive influx of people who are usually going to be here for a short period, so we have to provide things that are a little more middle end. But then there are beautiful homes on the water around us with a lot of people who can afford and enjoy the higher-end mattresses. There’s a mix that we cater to”

And like any savvy businessman, Odland knows that customer service is the golden ticket. 

“We do whatever we can to make the customer happy,” he says, “And I’m not saying they’re always right, but we will do whatever we can to make things right if there’s an issue. But the important thing is to set your expectations correctly when it comes to customers. You want to plan for if an order could be behind so the customer doesn’t get upset. And if it comes in early, that’s all the better. I think we set expectations well.”

He adds that he would love to open another store, but right now he wants to focus on making the current two locations the best they can be before opening the next.

“With everything that happened with the roller-coaster ride that was Covid I think it’s probably best to maintain this for a couple more years,” he says. “We’ll likely look to expand in two to three years, but you never know, sometimes a place opens up and it’s just too hard to pass up!”

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It also addressed a burning question that’s been on everyone’s mind.

“Regarding the pending Mattress Firm transaction, we continue to expect to formally respond to the Federal Trade Commission’s second request in the fourth quarter and to close the transaction in mid to late 2024,” said company Chairman and CEO Scott Thompson. “I am pleased to share that Tempur Sealy and Mattress Firm continue to make joint progress in synergies planning. In addition, Tempur Sealy has signed post-closing supply agreements with numerous companies providing Mattress Firm with access to certain consumer-desired products, solidifying important supplier relationships ahead of the expected close. Additional discussions regarding supplier relationships are ongoing.”

In summary, its third-quarter numbers were:

• Total net sales decreased 0.5% to $1,277.1 million this year as compared to $1,283.3 million in the third quarter of 2022, with a decrease of 3.2% in the North American business segment and an increase of 12.3% in the international business segment.
• Gross margin was 44.9% as compared to 42.2% in the third quarter of 2022.
• Operating income decreased 8.9% to $183.2 million as compared to $201.0 million in the third quarter of 2022.
• Net income decreased 14.6% to $113.3 million as compared to $132.7 million in the third quarter of 2022.

“We realized robust third-quarter operating cash flows and expanding gross margins while our sales and earnings were solid against a challenged operating environment,” says Thompson. “We believe the company outperformed the broader bedding market. This outperformance and double-digit growth in international sales partially mitigated a challenged U.S. bedding market, which was softer than anticipated in the quarter.

“Similar to the second quarter, we demonstrated the strength of our business model and its ability to produce reasonable returns, even in a less robust market,” he continues. “Improvements in operations and supply contracts, combined with the impact of consumer-specific strategies drove significant gross margin expansion, positioning the company well for the future.”

As previously disclosed, the company identified a cybersecurity event on July 23, 2023, involving certain of the company’s information technology systems.

It incurred $13.5 million of costs in connection with this event primarily consisting of $9.6 million of manufacturing and network disruption costs incurred to ensure business continuity and $3.9 million primarily related to professional fees incurred for incident response, containment measures and stabilization of its information systems.

Following the forensic investigation, the company concluded there was no material impact to its financial results in the third quarter of 2023.

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While only a few bedding companies show product in High Point for market, the ones that came brought their A-game and focused on the opportunity interior designers offer.

One of the biggest changes at market was the location of Magniflex. The company, which previously shared a space with Copeland Furniture on the top floor of Showplace, moved into Casa Italia alongside several other Italian brands.

National Sales Manager Billy Curtright says this was a great move for the company, as they not only get to be around others who are shopping the high-end Italian brands housed in the boat-shaped building, but they also get to show their top eight mattresses in a warm and welcoming space.

The company also took advantage of being able to pair its in-house branding with the mattresses on display, which was front and center and the first thing you see when you ascend to the second floor of the building. 

The move makes them more visible to interior designers, and beyond the market, the company has hired a sales rep to work exclusively with designers out of the company’s to-the-trade-only showroom in Miami. Price lists, collateral and more are encompassed in their designer program. 

Curtright says that while the company strives to work with more independent retailers, interior designers are a growing channel that makes sense for the company.

Shifman Mattresses is another exhibitor that has a growing interior designer clientele, and while the company has an entire floor dedicated to these high-end buyers, they were also telling another story this market.

As the brand has become synonymous with upper-end, handmade mattresses, President Bill Hammer says the company now has more accessible options for a less affluent consumer. 

This has led to the refreshed Quilted collection, which offers six beds with four deluxe styles. He says they can be specifically merchandised for retail partners to aggressively advertise and drive in more consumers. 

The two-sided mattress starts at $1,599 for a deluxe queen model and can create better step-up opportunities for retailers. 

Bedding Industries of America was laser-focused on furniture and mattress retailers this market, showing its “Fab 5” lineup. The collection of five Eastman House mattresses in five comfort options gives the RSA an easy way to show and explain the bedding. It also gives the consumer an easier way to understand the options and choose based on their sleep preferences.

With an easy in-store display, RSAs can show customers all five comfort options that are designated with a number. Using these numbers around the store can even help RSAs sell other beds on the floor.

“We want to offer an affordable luxury story with the largest margins and best value and comfort,” says BIA President and CEO Stuart Carlitz. “Dealers are looking for solutions and market share, and we want to help them make more off of every door swing.”

The week of Labor Day was a record-breaking week for BIA in terms of sales, and one reason behind this is that retailers are looking for alternative brands to add to their floor because of the uncertainty of the Tempur Sealy/Mattress Firm deal.

“We’ve been taking on new and larger accounts as there is an attraction to the BIA brand, and we’ve added more people to our sales team,” Carlitz says. “I think alternative brands will continue to become more meaningful while the legacy brands might take a hit.”

Showing for the first time at High Point this year, Sleep Nerdzzz soft-launched its new smart bed in the Yatas Bedding showroom. Founders Keith Messenger and Andrew Harrington made a few changes since the July Las Vegas Market when the company displayed its first prototype. 

“Smart bases are attachments to attachments, not actual smart beds,” said Harrington. “Our bed offers real-time data that can send live reports to the user or whoever is caring for them. Our sensors measure pressure — which can alert people if the user of the bed has fallen out of it — and biometric sensors to measure heart rate. Instead of simply offering sleep data, our bed offers stats people can use for recovery that’s based on sleep data collected by our new sleep rings.”

The Sleep Nerdzz Smart Bed will officially launch in January at the winter Las Vegas Market. 

High Point Market has changed a lot over the last several years, but savvy bedding manufacturers have shown that they can keep up with the change, and it’s paying off.

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Featuring a sleek “new traditional” design, Bradington Young’s Emyrsen upholstery group is characterized by its low profile and slender key-arm design. It is available in a stationary two-over-two sofa, chair, ottoman and coordinating recliner. Emyrsen is fully customizable in a choice of more than 150 leathers and 200 fabrics. Showroom: Showplace, Floor 3

This double-pedestal dining table is part of Pulaski Furniture’s Miller Park collection. Made with cathedral white oak veneers, it is shown in a Barrel Brown finish. Featuring hints of Arts and Crafts and Americana artisan styling, the collection features decorative joinery and metal overlays, double waist moldings with plinth bases, and soft, rounded corners and overlays on the drawers. Showroom: Space 200 at 220 Elm.

The Kendall door chest by SLF has transitional and modern design influences. Part of the Kendall bedroom, it is shown in a light Alabaster finish and features a step-down design on the center drawer fronts with recessed rectangular hardware and an extended base in an aged pewter finish. Showroom: Space 200 at 220 Elm.

Alden Home’s Sabrina Cabinet, finished in a deep Adriatic blue, makes a bold statement featuring doors highlighted by dyed bird’s-eye maple veneers in a diamond pattern accented with custom hardware. Showroom: IHFC, IH310, Commerce, Floor 1

Cattelan Italia is showing its Amsterdam sideboard which combines two finishes, alternating on the doors, with a light/dark pattern that mimics the keys of a piano. The entire structure is finished in the company’s new hand-brushed Oxybrass finish and the doors are fitted with burned oak inserts, which protrude outward, giving the structure a dynamic shape. Showroom: Space 308, 220 Elm

The Jordan dining set by LC Direct is made with birch veneers and shown in a white gloss finish. Sporting metal accents on the table and chair frames, a four-piece set retails at $1,499. Showroom: The Mill, 126 S. Centennial St.

This dining set is part of Hekman Furniture’s Chateaux collection. Bearing French Heritage design influences, it is made with mindy solids and veneers and has a natural finish enhanced with charcoal glaze and aged with white powder glaze. Showroom: IHFC C-754

This bedroom is part of American Woodcrafters’ Beach Comber collection. It is shown in a two-tone sand and soft white finish and features bead board motifs as seen on the headboard and footboard of the panel bed and the drawers of companion case pieces. Showroom: 233 S. Main St.

This dining set is part of Bernards’ nearly 70-piece Assemblage collection. Made with elm veneers, it comes in two finishes, including a darker brown Peppercorn and a lighter brown tone called Latte. It has soft, modern design elements as seen in the waterfall edges on various case pieces and occasional tables and the curved footboard of a platform bed as well as the soft curves of sofas, chairs and other seating. Showroom: Space 201 of The Atrium, 430 S. Main St.

Cozzia USA is introducing two new colors for its Qi XE Pro Chair program featuring Chair Doctor technology. This model is shown in burgundy and black, and the other new color is Platinum. These and other massage chairs in the line will be on display this market. Showroom: 515, 517 Furniture Plaza

Nice Link Home Furnishings is showing its 4258 power motion sectional made at its Vietnam factory. Designed for smaller-scale apartment and studio living, it offers high-end power comfort complete with articulating headrests and a storage bumper chaise. The 90-degree-backed sectional also is designed to fit into living room corners without wasting space. Showroom: Spaces 1002, 1006 and 1008 of Market Square Tower

This cocktail table is part of the Shayla Copas collection for Ambella Home. It features a clean-lined aesthetic that includes tapered legs and two glass shelves. In addition to occasional furniture, the collection includes bedroom, dining, vanity sinks and a new upholstery line. Showroom: 310 N. Hamilton St., Suite 110

Dorel Home is celebrating its 10-year anniversary with The Novogratz by expanding Cortney’s Collection this season with a colorful, limited-edition extension of the collection’s bestselling products. Inspired by a modern farmhouse design, the rustic meets industrial Bushwick metal bed features a sleek, curved-edge headboard and footboard and is designed to maximize storage space underneath the foundation thanks to its adjustable bed-frame height. Showroom: Commerce & Design Building, 8N and 9A on Floors 8 and 9

Four Hands’ new Toland collection features upholstery with clean lines with loose back and arm cushions. A smooth linear base is fully upholstered and wraps up the arms for a shelter effect. It is covered in a new basket-weave fabric that brings both texture and comfort to the entire piece. Showroom: Showplace, 4101, Floor 4

Fusion Designs Inc. is expanding its popular quick-ship Essentials Collection this market. New to the program is the Hatfield dining group in solid brown maple, featuring another clean-lined dining table, this time with a shaped top and beveled edge that can accommodate up to two 18-inch leaves. Showroom: Radio Building-404, Floor 4

This loveseat is part of Legacy | Motion’s Serena collection, one of 12 motion groups the company is showing at market. It features wood trim inspired by the light natural finishes seen in its popular Biscayne case goods collection. Showroom: 2622 Uwharrie Road, High Point

This Sierra chair and sofa mark case good manufacturer Copeland Furniture’s entry into upholstery. They feature solid wood frames and deep comfortable seating. Showroom: Space 5100, Showplace

HF Custom’s Margot accent chair is characterized by its armless silhouette and fully upholstered frame. Showroom: Showplace, Floor 3

Hickory White‘s Benson desk has smooth rounded corners and a warm, dark finish with gold hardware. Showroom: 315 Fred Alexander Place, Third Floor

Horizon Home’s Marin floating sectional has a wide track-arm design with deep seats covered in performance fabric. The floating ottoman provides left or right solution and cushions are fully reversible. Showroom: IHFC, H1144

Lillian August’s Leon Chair has a high, rounded, tight back and wood frame detail. With one seat cushion and Gatsby-inspired flair, this modern accent chair blends luxury and charm. Showroom: 315 Fred Alexander Place, Second Floor

Precedent’s new Fulwood sofa embodies timeless luxury. This midcentury modern sofa combines sophistication and comfort, making it the perfect centerpiece for any living space. Its design boasts a unique curved shape, adding a touch of elegance. The tight back provides exceptional support, while the tapered legs enhance its modern allure. Showroom: 315 Fred Alexander Place, Third Floor

Royal Morris Living’s Canton power motion sofa is shown here in stylish deep blue leather. Showroom: Profit Center, 110 W. Commerce Ave.

This secretary/desk is part of Hooker Furniture’s Americana collection. Made with oak veneers, it is shown in a weathered and distressed Daisy finish. Case pieces also feature classic bale-style and hand-hammered metal hardware, both in a muted brass-tone finish. Showroom: Third Floor of Showplace

The Pebbles settee by Norwalk Furniture has modern design influences. Available in a left and right configuration, it is shown in a boucle fabric which enhances the comfortable and plush seating of this modern silhouette. Showroom: IHFC, M-108

The F438 Sectional by Sherrill Furniture is an L-shaped piece designed to transform your living space into a haven of relaxation and contemporary sophistication, providing a balance between functionality and style. Showroom: 315 Fred Alexander Place, First Floor

Sarreid’s Grandon cocktail table is evocative of classic Spanish architecture and construction. Wrapped in leather with hand-placed nailhead accents, Grandon is a generational accent piece for any home. Showroom: C&D Building, Third Floor and 404 Interhall

Amisco’s Tully stool is available in 14 metal colors and more than 70 fabrics, as well as counter- and bar-height options. Showroom: IHFC, D720, Design Center, Floor 7

Expanding Stickley’s bestselling Walnut Grove Collection, influenced by midcentury modern and Scandinavian design, this tufted-back sofa features slim track arms, a tight back accented by a modern grid of button tufts, and plush cushions for supportive comfort. It sits on a broad base of solid walnut (also available in maple) with tall tapered legs. Showroom: 200 N. Hamilton St.

Blending marble and metal, Universal Furniture’s 54-inch round Slate dining table creates a captivating fusion of materials. It showcases a honed Black Merino Marble top with creamy white veining, while its cast aluminum base in Antique Silver offers a contemporary industrial edge. Showroom: 101 S. Hamilton St.

Woven in an American art deco style, Arteriors’ Begala gray-washed finished lounge chair utilizes an intriguing mix of open and closed rattan. Featuring a high square back and serpentine arms, a cushion of ivory linen completes this comfortable lounge chair. Showroom: Commerce & Design, 1A, 1B, 1G, Floor 1

Belle Meade Signature’s Clayton king bed has an upholstered headboard that blends seamlessly with a sleek wood frame. Showroom: 117 N. Hamilton St. Showroom 203

Case and Canvas’ Lockhart swivel chair puts a modern spin on a midcentury favorite, showcasing a low-sitting accent design with a sleek gunmetal-finished swivel base. An ideal addition to lounges, living spaces or offices. Showroom: 300 W. Broad Ave.

Furniture of America’s Opulenza Signature collection features five upholstery groups with sleek, modern designs in both transitional and contemporary looks. Handcrafted by skilled craftsmen in Italy, the line offers affordable Italian luxury in both stationary and power motion sofas and loveseats. Showroom: IHFC, C700, W746, Commerce, Floor 7

Liemeuax by Precedent’s Rue etagere is crafted with a mix of cerused oak wood and brushed brass accents. It anchors any room and elegantly showcases books and decor. Showroom: 315 Fred Alexander Place, Third Floor

The Mission bench is part of the Tamara Day collection at Spectra Home. It is shown in Buffalo Sage fabric. Showroom: Spaces 211 and 213 of 200 N. Hamilton St.

The Estriada mirror by Cyan Design is 46 inches round and is made with solid cerused mango wood. It also features hammered white metal accents. Showroom: IHFC, Space C258

This living room vignette is part of the new Barclay Butera Villa Blanca collection at Lexington Home Brands. Shown are the Athos sofas, the Cyprus cocktail table and the Grand Villa cabinet. The white finishes and fabrics showcase an emerging trend that combines sophisticated forms with casual lifestyles. Showroom: 1300 National Highway, Thomasville

Bellini Modern Living’s Zurich sofa features three deep seats, slim track arms and plush down-filled lumbar pillows for extra comfort. Fabric selections are performance-rated for easy care, including stain resistance and the ability to clean the material. Showroom: IHFC, H520.

Luxfort Home’s Imperial PowerBed features a Bluetooth audio system, power headrests, LED reading lights and a folding center console with cup holders, power switches, USB charging ports, and two wireless-charging phone holders for a convenient entertainment experience in bed. Showroom: 100 N. Main St., High Point

Motioncraft’s new Ratchet Back sofa combines sleek modern design with a unique quilted pattern on the padded seat back and top of the arms. This leather sofa boasts a power recliner mechanism that effortlessly adjusts to the desired position, ensuring ultimate relaxation. Showroom: 315 Fred Alexander Place, First Floor

Nathan Mai, namesake and next-generation designer for high-end upholstery manufacturer Nathan Anthony, is a student at Otis College of Art and Design. Given the challenge to create using a repetitive shape, his junior-year project resulted in an upholstered chair concept named “Bear.” The emotional comfort-based design offers the effect of a hug while sitting. Showroom: IHFC, IH602

Paul Robert’s high-back sofa with leather cap arm provides comfort and support and is bordered with pewter-colored decorative nails. Leather contrast welting frames the box back and seat cushions. The fabric is imported from Turkey and consists of a blend of acrylic, olefin and polyester yarns that create a nubby texture. Plaid pillow fabric is a blend of wool, mohair and alpaca. Showroom: 442 N. Wrenn St.

Sagebrook Home’s Bartholomew is an elevated midcentury modern console with a twist. It is perfectly suited for a masculine library with dark moody hues combined with warm amber and rust. As an accent, the group also has industrial modern gold and brass elements mixed with lush bronze finishes to give it a designer edge. Showroom: IHFC, D-520

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Charlie Eitel, Serta Simmons Bedding’s new CEO, talked about the company’s recent restructuring after filing for bankruptcy earlier this year. 

“The business was too complex and there was too much of an emphasis on direct-to-consumer and not enough on our physical retailers,” he said. “Looking at DTC brands, results have been dismal in the industry, and we’re coming back relevant, simple and consistent.” 

He added that all brands will be treated equally and that the company’s advertising will no longer be aimed at consumers. Instead, the funds will be allocated to help its retail partners.

“Thank you all for the support,” he said. “There is a lot of work to be done, and we’ll be starting with taking back market share.”

Michael Campbell, owner and CEO of Leather Italia, said that furniture stores remain over-inventoried and that although retailers have tried discounts, that is done at the expense of margins.

Costs are in line with pre-Covid numbers, which is normalizing the margin basis, and many believe that a clean start is coming in 2024, he said. 

He offers four action items for retailers:

1. Make sure you have a sufficient cash flow to be able make purchases
2. Keep inventory on hand if you can 
3. Think about your fixed-cost management
4. If you have slowed down, start spending money on advertising again

He said that in terms of a macro outlook of the industry, retailers see opportunities to expand product categories, invest in their stores and bring in new technology. 

“Retailers remain positive, and many feel 2024 will be a rest for business,” he said. 

Resident’s Managing Director Bob McCarthy took the stage to talk about the company’s rapid growth to a Top 5 mattress brand since its founding in 2018. 

McCarthy said the brand is the No. 1 driver of traffic to mattress stores — sending around 350,000 consumers to retail stores in 2022. The company is also working on increasing margins with the introduction of higher-priced models, like Ultra, which it introduced in Vegas, that will lead to higher tickets.

The sheer amount of advertising Resident does — it spends $250 million per year on it — earned the company 44 million website visits and counting. And the company’s marketing conversion is 2.5 times that of the industry average.

In the first half of 2023, Resident had 18 million website visits. During that same period, retailers sold over 82,000 Nectar mattresses. So, if 81% of the consumers who purchased Nectar started out online, that would mean over 66,000 can be tied directly to their marketing.

What’s more, if you consider that 74% of people who looked at Nectar didn’t actually buy it, the buying journey — which started with Nectar — led to over 17,000 consumers that bought something else. 

With these numbers, McCarthy explains that Nectar can bring in around eight new customers a month for the average mattress retailer. 

Steve Rusing, executive vice president of U.S. sales for Tempur Sealy International, started his presentation by talking about the recent cyberattack that caused the company to shut down its IT systems while it checked on data privacy.

He says it was a challenge to communicate what was going on during this time because TSI is a public company and couldn’t release details for risk of sharing insider information.

However, the company has overcome the cyber event and made its first priority to get Sealy’s website back up because those models are built to order. Tempur’s site was second on the list, and Rusin says the lead times are only behind one week because of the shutdown. 

“Our takeaway from this is that it’s a matter of ‘when’ and not ‘if’ when it comes to cyber events,” he said. “We put together a plan for this kind of situation three years ago, and it paid off. Make sure you have a plan and that all employees understand their role.”

He went on to talk about how the bedding industry has been in a bit of a recession for the past few years and that experts are forecasting modest growth over the next year. However, he says it’s tough to forecast because it feels like we’ve been in a downturn for a while.

He then laid out the best path retailers can take to drive business and be successful this year. 

1. Brand names drive traffic and conversion. Don’t underestimate the power of a brand.
2. Focus on premium products because consumers are stepping up. The customer looking more at value will return, he says, but for now, you should get your fair share of shoppers buying premium.
3. Elevate the shopping experience with branded walls and messaging that carries weight. 

Overall, the speakers agreed that the industry is in a tough spot right now, but everyone is trying to work together to get through this and hopefully start anew in 2024. 

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So how do you advertise on a tight budget? Here are a few ideas:

1. Social media advertising. If you know what you’re doing, social media advertising can be a great and affordable way to reach thousands of people. For small monthly fees, posts can target specific demographics based on your location or typical buyer. But beware the algorithm and research how to effectively advertise through social media, because it’s not always as simple as some make it seem. 
2. Get local. Local causes, sponsorships and events can help build a following and set you apart in the community while acting as a free advertisement for your store. Talk to other small-business members and get involved with your local chamber of commerce. Word of mouth is the best free advertisement there is.
3. Differentiate. Competition in retail is hotter than ever. But carrying unique products that other stores don’t carry will set your store apart. Comb over your entire program and make sure you have products that bring people back in. Some consumers simply want promotionally priced goods, but if you can bring that wow factor to your store customers may change their minds.
4. Repeat customers. If you shop at a Coach store, they will send you a personal thank-you card a few days after the purchase. This kind of follow-up not only makes people like the brand more, but it’s memorable for the consumer and makes them more loyal to the brand. This idea can easily be translated to the bedding industry. And be sure to personalize it. For example: “Thanks for coming in! We hope you get the great night’s sleep you deserve on your new [name or type of mattress]! Call us any time if you have any questions or want to complete your sleep system!”
5. Print flyers. It sounds old school to print flyers and post them to cars in busy parking lots, but it’s not a bad idea if you have the time and manpower. These flyers do catch people’s attention and keep your store top of mind. Simply having consumers see your store’s name is a powerful advertisement.

There are several free or affordable ways retailers can advertise that offer a visible ROI — it just takes time, planning and strategy. 

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That’s the big question in the industry right now, and it’s going to continue to be until the effects of the deal become visible. 

But from everyone I’ve talked to so far, I don’t think this deal will hurt retailers as much as some think it will. It could actually offer opportunities.

For instance, Lawrence Heilers, owner of Texan Mattress in Magnolia, Texas, says private label business in the mattress industry has been growing for some time now, and it’s becoming even more popular, with huge brands like Miskelly private-labeling Diamond mattresses. 

Tempur Sealy is a well-known brand name, but the industry is smart enough to find solutions if problems arise. Private label beds could become go-tos for those who either remove Tempur from their floors, or worst case, lose them because of the deal. And that’s just one example.

But there’s one other looming question that will be central to the entire journey through this acquisition and its effects on the industry: When has a manufacturer ever been a good retailer?

The two types of business are related, but so different that it has never worked out well for a manufacturer doubling as a retailer.

And this isn’t meant to be an inflammatory question. Therapedic International CEO Gerry Borreggine recalls a time when Sealy was in the retail business, and that didn’t end well.

He offers the example of back when Sealy was owned by Bain Capital. Sealy took over Mattress Firm because of their inability to pay accounts payable to Sealy. Gary Fazio, the previous CEO of Mattress Firm, went from Sealy to Mattress Firm and started a turnaround which led to Mattress Firm being sold to Sun Capital.

“It’s a slippery slope when a manufacturer becomes the owner of a retailer’s competitor,” he says. “I don’t think it matters the size of the company, when a manufacturer owns a retail outlet, most retailers are going to look at them with a jaundiced eye, which is a justifiable thought for a retailer.”

He says that Sealy has likely survived the pushback because of its size, but with a breadth of choices both on- and offline today, the situation may be different now.

Borreggine also shared that in terms of the manufacturer, the smaller guys can win, as Therapedic was the No. 1 utility bedding brand at Bed Bath & Beyond for 13 years until it filed for bankruptcy.

Keith Moneymaker, owner of Sweet Dreams Mattresses & More in Southern Pines, North Carolina, who has a strong relationship with Tempur, thinks that the more exposure consumers get to mattresses, the better.

As a personal example, he shared that a Sleep Number store opened up down the street from his store, and now he gets almost twice as many people into his store because of the exposure.

“Instead of worrying about competition, worry about what’s going on in your own marketplace,” he says. “At the end of the day, the deal is going to happen, so you can either get out of the mattress business or you can embrace it and be proactive.”

One of the ways Moneymaker has set his store apart is with his Dreams 4 All program. He started the Dreams 4 All Foundation in 2016 in response to the devastation caused by Hurricane Matthew. 

As a mattress store owner, he realized he was in a unique position to gather and donate used beds to many of the families devastated by the hurricane. After a couple of months of collecting and donating beds, the Dreams 4 All Foundation was created, and now the organization has donated over 5,000 beds. 

Moneymaker is also making the program available to other retailers so they can set themselves apart and help everyone have a good bed to sleep on.  

Overall, he thinks there are opportunities to be found in this acquisition — a big one being that Tempur will clean up the sales that hurt the image and business of the mattress industry.

“I think they’ll broaden and raise the landscape of our industry overall,” he says. “We have to clean up the mess we’ve made and make things easier to understand for the consumer.”

The post Will Tempur Sealy’s acquisition of Mattress Firm bring new opportunities? appeared first on Home News Now.

The 57-page complaint says that nearly every step of the manufacturing process involves the use of synthetic chemicals, some of which are “known toxins.” Avocado products are “Made Safe Certified,” a designation that the company says means that items have been developed with “100% healthy ingredients.”

The case alleges otherwise, saying the “Made Safe Certified” designation, overseen by the group Nontoxic Certified, does not mean that a product is made with “100% healthy ingredients,” only that the product’s ingredients have been cross-referenced against a database of known and suspected toxins. 

This truly is an interesting case in our industry, but I don’t think it will be the last.

Eco-friendly products were previously a luxury, but now sustainability has become more important than ever, especially to younger generations. It’s going to be important for mattress companies to market their products truthfully according to policy.

I would expect Avocado to know exactly what their eco-designations mean, but that doesn’t mean they aren’t wrong.

Regardless of who wins that case, I will say that anyone out there who’s stretching the truth even a little bit with their sustainability message may be in for a nasty surprise when adamant go-getters decide to file lawsuits challenging their claims.

Consumers have more information at their fingertips today than ever, so if you think they aren’t looking up what your eco-friendly designations actually mean, you’re fooling yourself.

The ad dollars that go into mattress marketing are nearly countless, but they won’t be worth anything to anyone if they tout false claims.

There likely aren’t many mattress manufacturers out there who are outright lying in their messaging, but in a dog-eat-dog world, you don’t want to exaggerate sustainability claims even a little bit — especially if you have the word “green” in your name.

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