Tempur-Pedic First-Quarter Net Climbs 16.5 Percent
April 20, 2012,
LEXINGTON, Ky.-The fiscal year for Tempur-Pedic began with another solid bottom-line gain--16.5 percent to $56.2 million.
The mattress manufacturer benefited from a solid performance in net sales, which increased 18 percent to a record $384.4 million. Tempur-Pedic reported that sales in the United States rose 17 percent and that international sales were up 19 percent in the quarter, which ended on March 31. Mattress sales worldwide increased 18 percent, and that pillow sales gained 20 percent.
Gross margin picked up 132 basis points to 53.6 percent, thanks in part to greater efficiencies in manufacturing and distribution. Selling, marketing, general and administrative expenses rose 26 percent in dollars and 204 basis points as a percentage of sales, to 31.2 percent.
Tempur-Pedic also said it expects fiscal year 2012 to finish with net sales of from $1.6 billion to $1.65 billion, which would represent an increase of from 13 percent to 16 percent over fiscal 2011.
Other Articles By Author
Adriana Hoyos Relaunches Brand at High Point Market
HFN's DIGITAL EDITION
2017 State of the Industry Report
Cautious Optimism, Mixed Results
Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.
ALSO IN THIS ISSUE:
- Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
- N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.