Sleep Country's results were impacted by consumers delaying bigger purchases: CEO

Sleep Country Canada Holdings Inc.’s chief executive said shifting consumer spending habits into travel and leisure weighed on the company’s fourth-quarter results.

Stewart Schaefer, the president and chief executive officer of Sleep Country, said while the company had a strong Black Friday and Cyber Monday last quarter, consumers are putting off big purchases on items like mattresses and spending more money on travel.

“Throughout the quarter it was choppy and some markets were stronger, some markets were weaker,” Schaefer said in an interview with BNN Bloomberg on Friday.

“But the last two weeks also, the travel industry seems to be still booming and a lot of our consumers have shifted a little bit of their spend over into travel and leisure.”