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Be the first with the news that moves the market- Sleep Country Canada (TSX:ZZZ) has temporarily closed all of its retail stores, due to COVID-19
- While the company initially saw a sales surge as people bought items for self-isolation, social distancing rules soon became stricter
- Dormez-vous and Sleep Country Canada retail stores closed on March 21, and hope to reopen on April 3
- Sleep Country Canada (ZZZ) is up 9.86 per cent, and is currently trading at $10.03 per share
Bedding retailer, Sleep Country Canada (TSX:ZZZ) has temporarily closed all of its stores because of the COVID-19 pandemic.
In the past week, the company saw a sales surge as customers visited stores to prepare for self-isolation. Sleep Country sold many blankets, pillows, mattresses and folding cots, which would be essential for families during times of uncertainty.
However, Sleep Country Canada’s CEO, Dave Friesema, said that progressively stricter rules from authorities forced them to close.
“The federal and provincial guidelines for retail environments are becoming more prescriptive. Officials have put an increased emphasis on the importance of social distancing in curbing the spread of the virus.
‘Therefore, we have decided to move all customer shopping to our e-commerce platform and close physical retail locations,” Dave said.
All Sleep Country Canada and Dormez-vous retail stores were temporarily closed at 5:00pm on Saturday March 21.
In today’s announcement, the company stated that employees would continue to receive their pay during the closure period. In a time when thousands are losing their jobs and income, this will come as a great relief to Sleep Country staff.
The company also said that the customer service team will continue to be available to answer queries.
Sleep Country hopes that all of its stores may be able to reopen on Friday April 3. This will, of course, depend on developments around COVID-19 and related government guidelines.
Sleep Country Canada (ZZZ) is up 9.86 per cent, and trading at $10.03 per share, as of 3:31pm EST.
