As of Aug 2, 2016, the company operated 3,482 stores and franchisees operated 121 stores, primarily under the Mattress Firm and Sleepy's names, in various metropolitan markets across 49 states.
During fiscal 2015, the company opened 310 new stores, closed 54 stores and acquired 9 stores. During the first half of fiscal 2016, Mattress firm acquired 1,065 stores, opened 144 stores and closed 86 stores. Of the 1,065 stores acquired, 1,050 stores are attributable to the acquistion of Sleepy's , a specialty mattress retailer located primarily in the Northeast and the Mid-Atlantic. In fiscal 2016, the company expects to open 256 net new stores.
The company leases all but one of its stores, with initial lease generally for 5 to 10 years, and most leases contain multiple 5-year renewal options and rent escalation provisions.
The company typically utilizes 2 store prototypes: traditional store formats, which averages approximately 4,300 square feet and SuperCenter store formats, which average approximately 6,700 square feet. The company prefers to develop freestanding units located in high traffic power centers with major retailers, such as Target, or other specialty and home furnishings retailers, such as Bed Bath & Beyond, Best Buy, Costco, Dick’s Sporting Goods, The Home Depot and Whole Foods.
|Total gross square feet (M)||17,061||10,838||9,672||5,848||5,075||3,475|
|Total gross square feet growth||66.6%||12.1%||65.4%||15.2%||46.1%||21.1%|
|Avg store gross sq ft||4,900||4,600||4,600||4,800||4,800||4,800|
|Avg store gross sq ft growth||6.4%||-0.5%||-3.3%||-0.6%||0.7%||-1.7%|