HOUSTON – Mattress Mack is a lot lighter in the bank account after a Super Bowl promotion cost him millions of dollars.
Jim “Mattress Mack” McIngvale announced on his website that he lost $7 million in the “Pigskin Promotion” after about a thousand customers won free furniture.
After a coin toss, Mack bet that the Seattle Seahawks would lose the game. If not, Gallery Furniture customers who bought at least $6,000 worth of furniture during the promotion -- before the Super Bowl—would get a refund. As we all know, Seattle won, leaving plenty of happy customers singing “cha-ching!”
But McIngvale is taking it all in stride.
“We’re trying to create customers for life and make the store relevant and fun, and it was a great promotion for everybody and the customers won and that’s what it’s all about,” he said.
The first time McIngvale lost a bet with customers he forked over more than $600,000 in a similar deal.