Tempur Sealy Q1 FY20 sales jump 19% to $822 million

Tempur Sealy International, a manufacturer of mattresses, foundations and pillows, posted 19 per cent sales jump to $822.4 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to $690.9 million in same period prior year. Net income were $59.7 million (Q1 FY19: $ 28.4 million). Operating income were $105.3 million ($60.5 million).

 

Tempur Sealy International, a manufacturer of mattresses, foundations and pillows, posted 19 per cent sales jump to $822.4 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to $690.9 million in same period prior year. Net income were $59.7 million (Q1 FY19: $ 28.4 million). Operating income were $105.3 million ($60.5 million).#

“We are especially pleased with these results in light of Covid-19 having a material impact on our Asian business throughout the quarter, and a material impact on our North American and European markets during the second half of March,” Scott Thompson, Chairman and CEO at Tempur Sealy, said in a press release.

 

Tempur Sealy International, a manufacturer of mattresses, foundations and pillows, posted 19 per cent sales jump to $822.4 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to $690.9 million in same period prior year. Net income were $59.7 million (Q1 FY19: $ 28.4 million). Operating income were $105.3 million ($60.5 million).#

Sales in North America increased 24.5 per cent to $677.2 million ($544.0 million). However, International net sales decreased 1.2 per cent to $145.2 million ($146.9 million).

 

Tempur Sealy International, a manufacturer of mattresses, foundations and pillows, posted 19 per cent sales jump to $822.4 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to $690.9 million in same period prior year. Net income were $59.7 million (Q1 FY19: $ 28.4 million). Operating income were $105.3 million ($60.5 million).#

Wholesale business during the quarter increased to $722.4 million ($615.9 million). Direct sales which includes e-commerce sales jumped to $100.0 million ($75.0 million).

 

Tempur Sealy International, a manufacturer of mattresses, foundations and pillows, posted 19 per cent sales jump to $822.4 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to $690.9 million in same period prior year. Net income were $59.7 million (Q1 FY19: $ 28.4 million). Operating income were $105.3 million ($60.5 million).#

“We are very pleased with the way our online business has performed in response to market changes post Covid-19 with growth exceeding 100 per cent in April in the US market.  This again points out the strength of our go-to-market strategy of being wherever the customer wants to shop,” Thompson said.

 

Tempur Sealy International, a manufacturer of mattresses, foundations and pillows, posted 19 per cent sales jump to $822.4 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to $690.9 million in same period prior year. Net income were $59.7 million (Q1 FY19: $ 28.4 million). Operating income were $105.3 million ($60.5 million).#

The company reported that it has experienced a major reduction in total net sales since Covid-19 began materially impacting its business in mid-March. Order trends reduced 80 per cent for a few days in early April with second quarter to date 2020 orders down approximately 55 per cent as compared to the same period in 2019.