In March, investment bank and financial services firm Piper Sandler reported that February 2024 “showed…
When financial services and investment firm Piper Sandler recently reported on Memorial Day Weekend sales, the Minneapolis-based company stated in its PSC Mattress Retailer Survey that results were mixed and bifurcated by region. With Memorial Day Weekend traditionally being one of the strongest sales periods of the year, it was initially unclear how much total sales for May would be impacted.
Now that Piper Sandler has released its May Mattress Survey, which surveyed more than 10 retailers representing nearly 600 stores, May surprisingly showed the strongest year-over-year sales growth since February 2022, bestingthe company’s initial checks and expectations from retailers. Memorial Day Weekend sales increased 13%/10% year over year. The company also noted that “the mattress industry continues to see sales tied to key selling events (such as MDW), the overall industry sales trend appears to be improving as it moves toward flat year over year.”
Based on this bit of good news, Piper Sandler expects a strong recovery for sales in the industry over the next 18 months. Looking ahead, Piper Sandler forecasts that “a majority of retailers still lean positive.” Second quarter sales results also improved slightly to -0.3%/3.5%.
