Report: Weak Results on Presidents Day Sales Slowed Retail Growth in February

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Retail mattress sales remained healthy in February but slowed from the record double-digit growth posted in January, an industry report says.

Sales on the Presidents Day weekend (Saturday through Monday), traditionally a time of heavy mattress promotions, were down, the report notes.

The Piper Sandler February Mattress Retailer Survey, which reflects the views of retailers across the country, found that total dollar sales in February increased by a mean of 8.8%, compared with total dollar sales growth in January, which was up by a mean of 22.3%.

“Multiple retailers noted disruptive weather as a headwind to the month, particularly over Presidents Day weekend, which was down 15% year over year, but sales trends appear to have improved in recent weeks,” Piper Sandler says.

Retailers said they expect those missed Presidents Day sales gradually to be recaptured over the next one to three months.

Piper Sandler says 82% of retailers in its survey reported positive sales growth in February versus 100% that reported positive sales growth in January.

Looking ahead, retailers now expect overall first-quarter sales growth in the 15% range, lower than their expectations at the end of January. That revised estimate implies March growth of about 15%, Piper Sandler says.

Total dollar sales for the fourth quarter of 2020 were up by a mean of 13.2%, about the same as total dollar sales growth of a mean of 13.8% for the third quarter of last year, according to Piper Sandler.