Skip to main content
Sister Publication Links
  • Middle East Foam & Polyurethane
  • UTECH Asia/PU China
  • UTECH Europe
  • UTECH Las Americas
Subscribe
  • My Account
  • Login
  • Subscribe
  • Coronavirus
  • News
    • Asia
    • Americas
    • Europe
    • M & A
    • Financial results
    • Automotive
    • Huafon estimates 2020 profit will be up to 40% higher than 2019
      Construction starts for Jason Furniture plants in China and Vietnam
      World automotive registrations recover in H2 2020
      PU leather maker Anli to open Vietnam plant; starts supplying to IKEA
    • World automotive registrations recover in H2 2020
      Mlily to increase US market share following anti-dumping duties
      US footwear imports up 25% in November 2020
      Introducing UTECH Southeast Asia 2022
    • World automotive registrations recover in H2 2020
      Bosnian producer to invest in new PU panel factory
      Covestro wins ISCC Plus certificate for Krefeld MDI
      Car sales down 25% in Western Europe in 2020
    • PPG buys polyurea company Versaflex
      Recticel buys FoamPartner
      Recticel upgrades Q3 outlook despite raw material tightness
      Covestro broadens PU portfolio with DSM purchase
    • Huafon estimates 2020 profit will be up to 40% higher than 2019
      Mlily to increase US market share following anti-dumping duties
      Stellar Q4 performance saves Wanhua 2020 earnings
      2020 proved fruitful for Vitafoam Nigeria
    • World automotive registrations recover in H2 2020
      Car sales down 25% in Western Europe in 2020
      Patchy coronavirus effects hit global car sales in November
      November continues fall in Western Europe's car sales
  • Data
  • Information
    • Country Overview
    • Market Sector overviews
    • Technical articles
    • Company profiles and strategies
    • China’s PU industry on the path to recovery; plans for technology upgrades
      Chinese cold chains grow bigger
      Flexible foam rises to challenges in the Middle East and Africa
      Life at the cross-roads: what does the GCC offer PU?
    • Europe's flexible foam makers face rising prices as outages hit markets
      Western European car registrations rebound slowed in September
      Western European car registrations regained some ground in August
      Western European Car registrations rebound continued in July
    • Take out the VOC with hybrid release agents
      Batteries give pultrusions power
      Seeing a way through VOC and FOG
      Aromatic polyols for simpler rigid PU formulations
    • Hennecke and Frimo: an automotive partnership
      Pushing ahead: AutoRIM drives KM’s UK growth
      BASF opens it first ‘Creation Center’ in Mumbai with a PU twist
      Persistence pays off for CTM
  • Events
    • Exhibitions
    • Conferences
    • Webinars / Livestreams
    • Become a Speaker
  • Advertise
  • Contact Us
  • Issues
  • Subscribe
MENU
Breadcrumb
  1. Home
  2. News
August 14, 2020 12:30 PM

Coronavirus helps Purple to 54% sales growth in H1 2020

Simon Robinson
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    Lehi, Utah — Coronavirus lockdowns in the US helped Purple, the bed-in-a-box maker and online retailer, increase  sales 54% in the first half of 2020. 

    The company recorded sales of $287.5m in the half. Adjusted EBITDA across the business rose 487% to $35.2m. In the same period in the previous year, that figure was $6.0m.

    Megibow: Optimistic

    'It was a record-breaking [second] quarter from both a revenue and operating income standpoint as our organisation successfully capitalised on the strengths of our business model and the changes in consumer buying behaviour brought on by coronavirus,' said CEO Joe Megibow.

    He said Purple had scaled back production at the start of the pandemic, but increased output and improved fulfilment to meet demand from online direct-to-consumer sales as the half progressed. 

    'Our direct-to-consumer mattress business grew triple digits, as did several of our other categories led by seat cushions, pillows and sheets,' he said. 

    He added that this more than offset sales through physical stores as these were shunned by the public during lockdowns across the US.

     'Looking ahead, we remain optimistic,' he said. 'The positive momentum in our business has carried over into the third quarter and our strong cash position is allowing us to further invest in our key growth initiatives.'

    Purple is also planning a new manufacturing facility in Georgia, US. 

    Purple numbers H1 2020 ($ m)
    2020 2019 Change %
    Sales 287.5 186.7 54
    Adjusted EBITDA 35.2 6 487
    Margin % 12.2 3.2
    Source: Purple
    Recommended for You
    Huafon estimates 2020 profit will be up to 40% higher than 2019
    Huafon estimates 2020 profit will be up to 40% higher than 2019
    Construction starts for Jason Furniture plants in China and Vietnam
    World automotive registrations recover in H2 2020
    World automotive registrations recover in H2 2020
    Latest Issue
    Click HERE for Free Download
    View All Archives
    Get our newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Register to access our archive of leading information on the polyurethanes industry.

    Subscribe now
    Connect with Us
    • Twitter
    • LinkedIn
    • Facebook
    • Youtube

    Follow us on social media for the latest polyurethanes industry news and event updates.

    Logo
    Contact Us

    Office 127,
    61, Willow Walk,
    London
    SE1 5SF
    E-mail us
    +44 (0) 203 287 5979

    Customer Service:
    +1 313 446 0450

    Resources
    • Advertise with Us
    • Media Kit
    • Staff
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • Coronavirus
    • News
      • Asia
      • Americas
      • Europe
      • M & A
      • Financial results
      • Automotive
    • Data
    • Information
      • Country Overview
      • Market Sector overviews
      • Technical articles
      • Company profiles and strategies
    • Events
      • Exhibitions
      • Conferences
      • Webinars / Livestreams
      • Become a Speaker
    • Advertise
    • Contact Us
    • Issues
    • Subscribe