Hints and tips:
...The $50bn fund manager is a longtime lender to Revlon, the cosmetics company, and to Serta Simmons Bedding, the mattress group....
...Further reading— 26 questionable ‘00s trends that have unfortunately returned— Meet the bedding boss who really, really doesn’t want to live near HQ...
...Serta Simmons Bedding, one of the US’s largest mattress makers, filed for bankruptcy protection earlier this year. At Tempur, sales were flat last year but net income fell by 27 per cent....
...The focus of the business shifted to textile rental — table linen, towels and bedding, as well as workwear for various industries. It has been a good recovery story....
...The deal comes less than a year after TP ICAP finished bedding down its 2016 acquisition of ICAP for £1.3bn....
...In recent months, disputes have broken out at mattress maker Serta Simmons Bedding, travel technology provider Travelport and movie theatre chain AMC Entertainment over refinancing deals that favour one...
...Bed Bath & Beyond has poached a key Target executive to fill a months-long leadership vacuum as the bedding and homewares retailer tries to turnround its fortunes....
...The bedding and homewares retailer has stepped up an overhaul of its board and management as it tries to fend off the group of activist investors, which include Legion Partners, Macellum Advisors and Ancora...
...A version of this article was first published by the Nikkei Asian Review on July 12, 2019. ©2019 Nikkei Inc. All rights reserved....
Surprise announcement sends JCP shares to a new record low
...Additions to its line-up in the past year include its Winemakers Selection of wines and Allswell, an upscale mattress and bedding brand....
...The group, whose subsidiaries include French furniture retailer Conforama, British discount store Poundland and US bedding maker Mattress Firm, said it is “making every effort” to finalise its accounts for...
...“We highlight that JCP’s comps turned positive for first time since 2Q16 and beat updated guidance given a strong end to the quarter,” noted analysts at Cowen....
...At its Family Dollar stores, meanwhile, the best performers included refrigerated and frozen foods, bedding and school and office supplies....
...“JCP is taking necessary steps to effectuate its turnaround and is seeing some traction with its various initiatives, but we remain cautious given a challenged department store environment and risks involved...
...The rest of the Steinhoff group includes furniture retailer Conforama in France, UK value chain Poundland and bedding supplier Mattress Firm in the US....
...Steinhoff International, the acquisition-hungry South African discount retailer, is set to break into the US market with a $3.8bn bid for Mattress Firm Holding, the country’s largest bedding retailer....
...The SABMiller deal has shown the changes may be bedding down for even the biggest deals....
...“We believe this can happen as JCP fixes home, focuses on restocking basics and private branded product, and edits out inappropriate merchandise,” Citi’s Oliver Chen said....
...Innovations that fit current circumstances may stand a better chance of bedding in than those that tear up the rule book. As a concept, the 1980s Sinclair C5 electric vehicle was ahead of its time....
...of Mr Batchelor’s exit came after longstanding chief financial officer Lee Ginsberg unveiled his plans to retire, leaving the group facing most of 2014 with its top two positions filled by people still bedding...
...But the $16bn cash takeover of Illinois-based Beam Inc by the Japanese group represents more a rearranging of the bottles than a depletion of the cabinet’s contents....
...The stake would make Soros the fourth-largest shareholder in JCP (Bloomberg). Amazon’s margins widened despite a drop in profit....
...And they control the movement of furniture and bedding so tightly, that when I lived in midtown Manhattan, I concluded it was easier to bring guns into the lobby of my building than a new mattress....
...help broaden JCP’s appeal and bring in new consumers....
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