Tempur-Pedic Reports Strong Sales, Earnings

July 19, 2007  by in UnCategorized   

By Home Furnishings Business in Bedding on July 2007 Tempur-Pedic International, Lexington, Ky., reported an 18 percent increase in net sales and a 30 percent increase in earnings Thursday. With those strong results, the mattress maker boosted its full-year forecast—saying sales will be 13 percent to 15 percent higher than in 2006.

According to a statement Thursday, the manufacturer of mattresses and pillows saw second-quarter sales rise to $257.6 million. Earnings per share increased to 39 cents from 30 cents during the same period of 2006.

President and CEO Thomas Bryant said, “Our sales and marketing teams continue to deliver outstanding results. Account productivity is improving and distribution of our products is expanding quickly. Our new mattress models began shipping during the second quarter and continue to roll out across our retail partner base. Importantly, our existing product line also gained additional floor space within our established accounts.”

He said price increases that were put in place in the first quarter have improved margins for the company and retailers.

Tempur-Pedic boosted its outlook for the year. It now expects net sales to rise to $1.065 billion to $1.085 billion. Officials had previously said full-year sales could reach $1.040 billion to $1.070 billion. At the new, higher level, sales would be 13 percent to 15 percent higher than in 2006.