Lexington, Kentucky – Tempur Sealy has postponed a product launch in Europe citing recent geopolitical events, falling consumer confidence and new coronavirus outbreaks in international markets. It also set expectations for Q1 sales growth
Tempur Sealy delays launch, sets sales expectations
Scott-Thompson: geopolitical uncertainty
CEO Scott Thompson said: ‘[Because of the] current geopolitical uncertainty permeating the European market, we have elected to postpone the launch of the new international line of Tempur products that was planned for 2022 to the first quarter of 2023.' This was to be a range of products with lower price points than the normal offering.
The company said it expects sales in the first quarter of 2022 to be up 15% on the same period last year, but this is at the lower end of the guidance range it gave with its annual report in February.
The company plans to release its Q1 financial results on 28 April 2022.
