Tempur-Pedic Sales Rise 42 Percent

Posted by MCC on July 21st, 2010 at 09:34pm

Tempur-Pedic bedding manufacturer reported second quarter profits that almost doubled last year’s profits. The company’s sales jumped over 42 percent as compared to the second quarter for 2009. Tempur-Pedic specializes in visco elastic foam pillows and mattresses. The company saw a large increase in gross margin and also raised its sales and earnings guidance for this year.

“We are very pleased with the continued substantial growth in our North American business and we are also pleased with the improved performance of our international business, particularly on a local currency basis,” said CEO Mark Sarvary. “Our focus on improving gross margins and operating costs continues to be effective.”

Global sales totaled $263 million for the quarter, an increase from $185.2 million in last years second quarter. Tempur-Pedics net income was $33.5 million up from $16.9 million last year. The company’s worldwide sales for the first six months of this year were at $516.9 million.

Under Furniture News