Tempur Sealy Reports 6.9% Total Net Sales Increase

July 31, 2015  by in Executive Changes, Financial Reports, Industry   

Total net sales increased 6.9 percent to $764.4 million from $715 million in the second quarter of 2014. North America net sales increased 9.1 percent to $630.3 million from $577.9 million in the second quarter of 2014. 

Gross margin under U.S. generally accepted accounting principles was 38.9 percent as compared to 37.5 percent in the second quarter of 2014. Adjusted gross margin was 39.4 percent as compared to 37.6 percent in the second quarter of 2014, driven by solid improvement in gross margin of the North America business segment. 

“We are pleased with our second quarter performance as sales and earnings were ahead of plan, and we achieved a 29 percent adjusted contribution margin,” said Tim Yaggi, interim CEO of Tempur Sealy International. “Our products and advertising are clearly resonating with consumers. Given our strong sales momentum and our enhanced focus on costs, we are confident that we will further build on our performance during the balance of 2015 and beyond.” 

Tempur Sealy also announced it has appointed Barry Hytinen to executive vice president and CFO, succeeding Dale Williams, effective immediately. Williams will remain with Tempur Sealy until Aug. 31 to ensure the transition.