Lexington, Kentucky – Tempur Sealy, which makes viscoelastic mattresses and beds, said that its second quarter sales were up 60% on the same period in 2019, the last not to have been affected by coronavirus.
In a trading statement, it said: 'While the availability of chemical and foam supplies in the US has improved in line with expectations, demand for bedding products has accelerated further, resulting growth in the company’s backlog.'
CEO Scott Thompson said the company would keep making current models '[This is] an effort to simplify inventory management for retailers, at a time when the industry is having difficulty meeting robust consumer demand,' he said.
Tempur Sealy is also acquiring Dreams, a UK bedding retailer. Tempur Sealy said the business is the largest in Europe, and the sixth largest in the world.
It will pay $475m for the business, which had sales of $400m in 2020 and EBITDA of $75m.