The mattress industry is on a growth streak right now, with Tempur Sealy and Leggett & Platt among the top brands reporting a blowout Q2.
Tempur Sealy saw a 75.8% sales growth to $1,169.1 million in its second quarter of 2021, compared with $665.2 million in Q2 of 2020. And its net income for the quarter soared over 500% to $140.8 million.
Sales in North America surged 75.2% to $1,013.8 million, while the international segment’s sales jumped 79.3% to $155.3 million.
The company also updated its financial guidance for 2021 to reflect the improved business trends and the acquisition of Dreams, which closed earlier this month. For fiscal year 2021, Tempur Sealy expects net sales growth to exceed 35% over the prior year.
Leggett & Platt (L&P) also saw their growth skyrocket as sales for Q2 2021 came in at $1.27 billion, up 50% over the same period last year. EBIT for the period increased $149 million to $171.9 million this year, and earnings per share for the period was 82 cents per share—compared with a loss of 5 cents per share in 2020.
The acquisition of Kayfoam established a platform in foam technology and finished mattress products, which has added to L&P’s capabilities in its European market.
The company is expecting full-year sales to be $4.9 billion to $5.1 billion, up 14-19% over 2020.
These numbers come amid a time when furniture and mattress sales are through the roof, and there are no signs of this growth slowing.
Zeen is a next generation WordPress theme. It’s powerful, beautifully designed and comes with everything you need to engage your visitors and increase conversions.