Lexington Kentucky — Tempur Sealy, which makes polyurethane foam and conventional mattresses, had total sales of $690.9 m in first quarter of 2019, up 8.4% on the period in the previous financial year.
Tempur Sealy sales up 8.4% in Q1 2019
Thompson: market-testing new products
Gross profit across the business rose by 6.5%, reaching $281.8m in the first quarter of 2019.
Sales in the company's Americas business increased by 11.3% between Q1 2018 and Q1 2019. They reached $540m in the Q1 2019 period. This compares with $485m in the previous period.
Gross profit across in the division rose by 10.9% to $204m in the first quarter of 2019.
Scott Thompson, Tempur Sealy's CEO, said: 'North America was a major highlight with outstanding growth in our Tempur-Pedic products. We will be market testing new, innovative products.'
However, the company lost $5-8m on the purchase of Sleep Outfitters in the US. Tempur expects this business to break even by the end of the year ,and is restructuring it to achieve that.
Sales in the company's international business fell by 3.6% between Q1 2018 and Q1 2019. They reached $146.9m in the Q1 2019 period. This compares with $152m in the previous period.
