Sleep Country is a Market Leader

Article Excerpt

SLEEP COUNTRY CANADA INCOME FUND $24.71 (Toronto symbol Z.UN; SI Rating: Extra Risk) is the largest retailer of mattresses in Canada. Mattress sets account for about 90% of its sales. Other products include head boards, foot boards, pillows, mattress pads, bed frames and sheets. Stephen Gunn (the current CEO), Christine Magee (the current president) and Gord Lownds launched Sleep Country in Vancouver in 1994. In April, 2003, the company came out as a new-issue income trust and began trading on the Toronto exchange. Sleep Country now has 121 stores and 10 distribution centres in B.C., Alberta, Manitoba and Ontario. In January 2006, Sleep Country bought Dormez-Vous Sleep Centres, a Montreal mattress retailer with five stores. In March 2006, Sleep Country purchased Sleep America, an Arizona mattress retailer with 32 stores in Phoenix and Tucson. There are now 18 stores in Quebec and 36 in Arizona. Sleep Country differentiates itself by providing superior customer service, including knowledgeable sales staff, free delivery and a 60-day…