▲ Sleep Country Canada
That springy feeling
We’re sorry. That jingle is in your head already, isn’t it? Here, have a listen to Fabricland’s jingle to clear your head. Okay, back to Sleep Country: The company has upped the size of its IPO by 50%, and is now looking to raise $300 million owing to strong investor demand. What are they excited about? Mattresses are considered a necessity product, for one, so there’s always demand. Secondly, Sleep Country has actually shown some pretty impressive growth. Revenue has jumped 19% to $396 million since 2012, and same-store sales have been rising every quarter since mid-2013. According to its prospectus, Sleep Country is also reaping the benefits of a cleaner, brighter store design it started implementing last year. Although upstart mattress companies are challenging brick-and-mortar incumbents like Sleep Country by offering lower prices and a hassle-free experience, the company plans to open up to 12 locations annually for the next five to seven years.
“This soft drink is so bad for you!” “And the portions are so small!”
The movie theatre sparked a backlash from consumers this week when it shrank the sizes of its beverages—but kept prices the same. A large beverage will shrink about 25% from a hulking 44 ounces to a pathetic 32, which is only 1-litre. A medium will be downsized by roughly the same amount. The company said it was considering raising drink prices to compensate for its higher operating costs, but instead opted to shrink cup sizes and leave prices where they are. Consumers are shifting toward smaller cups anyway, the company claims. But outraged movie-goers saw the change as a simple cash-grab. “It is NOT cool to change a large pop to half the size but charge the original price,” wrote one Twitter user, adding, “#cineplexnotcool.” On Facebook, another movie-goer wrote “Get Ralph Nader on their asses.” However, it’s unclear whether Nader—best known for pushing seatbelt legislation in the U.S. to save lives—is willing to assist the Facebook user in his campaign to pay as little money as possible to ingest large buckets of sugary beverages and contract diabetes. Despite the complaints, Cineplex has no plans to reverse the changes, and is really hoping nobody starts asking questions about why it charges so much for popcorn.