Lexington, Kentucky – Tempur Sealy International, the bed and mattress manufacturer and retailer, had total sales of $1.21bn in the second quarter of 2022. This is up 3.6% on the same period last year.
However, adjusted EBITDA across the business declined to $203.4m, a fall of 24.8% compared with the second quarter of 2021. Margins also dropped, from 23.1% in the same period last year to 16.8% this year.
The company’s net sales were hit in its home market of North America which, at $964.7m, was a 4.8% decrease on the same period last year. The North American adjusted gross margin declined 330 basis points compared with Q2 2021.
Internationally, net sales increased by 58.6% to $246.3m, compared with net sales of $155.3m in Q2 2021, but net sales through the wholesale channel decreased 20.3% from Q2 2021, to $91.3m.