KETTERING, OHIO and HICKSVILLE, N.Y., - October 24, 2011 – GE Capital’s Retail Finance business, a consumer lending unit of General Electric Company (NYSE: GE), has renewed its agreement with Sleepy’s, the largest mattress retailer in the country with more than 700 retail locations, to provide consumer financing services to its customers.
Under the new multi-year agreement, Sleepy’s will provide consumers the option of financing their purchase with the Sleepy’s card, backed by GE Capital. The renewal of the agreement between GE Capital and Sleepy’s extends a program that began in 2001.
“Sleepy’s is among the most successful mattress retailers in the world, so we’re very excited to extend our business relationship with them,” said Paul Boeckman, Home Furnishings vice president for GE Capital’s Retail Finance business. “They have a proven business model that focuses on product selection and customer service, and we are proud to provide financing programs that contribute to their sales growth and provide payment options to their customers.”
Sleepy’s, known as “The Mattress Professionals,” is headquartered in Hicksville, New York. The 53-year-old company carries a wide variety of top name brand mattresses and delivers nationwide.
“GE Capital is a great resource for our business,” said Joe Graci, chief financial officer for Sleepy’s. “Customers appreciate options, including both product and payment options. GE Capital helps us enhance a great shopping experience.”
For more than 75 years, GE Capital’s Retail Finance business has provided billions of dollars in consumer financing through more than 200,000 small- and mid-sized businesses throughout the United States. GE Capital Retail Finance is a leading provider of consumer credit in the Home Furnishings industry and supports its retail clients with online technology such as Business Center, which includes service, training, marketing and sales tools.
About Sleepy’s The Mattress Professionals
Family owned since 1931, Sleepy’s has more than 700 retail showrooms located in 12 states and the District of Columbia. For four generations, the company has offered a wide variety of the top mattress brands and sleep accessories. For more information about Sleepy’s, visit the Company’s website at www.sleepys.com or facebook.com/Sleepys.
About GE Capital’s Retail Finance business
GE Capital’s Retail Finance business is among the country’s most successful retail lenders, with more than 75 years of experience in consumer financing. The business, which originates loans as a unit of GE Capital Retail Bank, provides credit card programs to retailers and consumers in the United States and Canada. This includes customized private label and bankcard credit programs to major retailers in the U.S., as well as private label credit card programs, promotional and installment lending, bankcards and financial services for consumers through dealers; national, regional and independent retailers; contractors; manufacturers; healthcare practices; and service providers across nearly 20 industries including: automotive, appliances and consumer electronics, elective health care, floor covering, home design and improvement, home furnishings, jewelry, music, powersports, outdoor power equipment and sporting goods. More information can be found at www.gogecapital.com and twitter.com/GoGECapital.
GE Capital is one of the world’s largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, sales finance programs, home, car and personal loans and credit insurance. For more information, visit www.gecapital.com or follow company news via Twitter @GECapital.
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world’s toughest challenges. From aviation and power generation to financial services, healthcare solutions, oil and gas and rail, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's website at www.ge.com.