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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (31480)10/20/2017 7:47:08 PM
From: Goose94Read Replies (2) of 203026
 
Sleep Country Canada Holdings (ZZZ-T) top pick from William Chin on BNN.ca Market Call tonite Friday Oct 20th 2017 @ 1730ET

Sleep Country is a leading mattress retailer in Canada and the only specialty mattress retailer with a national footprint. Mattresses account for approximately 80 per cent of sales, with the remainder coming from mattress/bed accessories. We like Sleep Country for the following reasons:

Competitive landscape. Sleep Country is a very strong operator that places a great deal of importance on having a well-trained sales staff. As such, they continue to take share from competitors through strong execution and we expect this trend to continue. They have been able to take shares from several key competitors such as Sears Canada (recently filed for bankruptcy protection) and Hudson's Bay (they have done well on their turnaround effort but mattresses are not an areas of focus for them), as well as smaller regional players.

Increasing penetration of accessory sales. Sleep Country is in the early innings of rolling out higher-margin accessory products (sheets duvets, headboards, etc.). The traction here has been impressive and they continue to increase the focus on growing accessory sales.

Store redesigns. The goal is to refresh 15-20 stores a year with more modern layouts that better highlight key products. The results have been very positive and are expected to continue to be a positive catalyst to sales.
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