State of play: Public mattress makers
Last updated May 18, 2023
During the midst of the pandemic, mattress stocks achieved all-time highs as consumers spent heavily on home improvement — but have since seen significant dips.
- In Q1 2021, Sleep Number was trading at above $143 per share and Purple passed $36 per share.
- Since then, both stocks have slid to a fraction of that. On May 18, Sleep Number and Purple closed at $19.92 and $3.55 respectively.
- In the late summer of 2021, Tempur Sealy was trading above $46 per share but closed May 18 at $37.82.
- Last week, Tempur Sealy agreed to acquire retailer Mattress Firm for $4 billion.
- Tempur Sealy’s stock has outperformed other mattress manufacturers, trading up 21% on the year versus its competitors.
- Casper reported record revenue in Q2 last year, with sales up in North America 45% year over year, only to sell to Durational Capital Management in November after hemorrhaging cash.
- Canadian sleep retailer Sleep Country Canada acquired Casper Sleep’s Canadian assets for $20.6 million in April.
- Bed-in-a-box retailer Leesa Sleep was acquired by 3Z Brands in March for an undisclosed amount, adding to 3Z’s portfolio of brands that include Nolah, Bear Mattress, Brooklyn Bedding, Helix Sleep and Birch.
- Serta Simmons Bedding, the Georgia-based mattress maker, filed for Chapter 11 bankruptcy protection in January.
- Mattress Firm in January withdrew its initial public offering registration after confidentially filing for an IPO in September 2021.