Mattress Firm Announces Extension Of Sales Partnership With Tempur Sealy

Rhea-AI Summary

On August 19, 2021, Mattress Firm announced a multi-year extension of its supply agreement with Tempur Sealy International, Inc. (NYSE: TPX) through 2025. This extension solidifies their ongoing partnership, previously initiated in 2019, aimed at enhancing consumer access to a diverse range of mattresses across Mattress Firm's extensive retail network of over 2,300 locations and online. Mattress Firm was recognized as the No. 1 Tempur-Pedic retailer in the U.S. for 2020, indicating strong sales performance. Both companies expressed optimism about future collaboration and innovation in products.

Positive

• Extension of supply agreement reinforces long-term partnership until 2025.
• Mattress Firm recognized as No. 1 Tempur-Pedic retailer based on 2020 sales.
• Collaborative approach to product innovation anticipated.

Negative

• None.

HOUSTON, Aug. 19, 2021 /PRNewswire/ -- Mattress Firm, the nation's largest mattress specialty retailer, today announced that it has signed a multi-year extension through 2025 to its current supply agreement with Tempur Sealy International, Inc. (NYSE: TPX). The news highlights Mattress Firm's commitment to providing customers with an expertly curated collection of quality mattresses from the best brands.

Mattress Firm entered into a three-year strategic sales partnership with Tempur Sealy in 2019, bringing a portfolio of innovative and highly sought-after products to consumers through Mattress Firm's 2,300+ locations nationwide, as well as on MattressFirm.com. Mattress Firm and Tempur Sealy partnered over the subsequent months to flawlessly execute an extensive product rollout across the country and train Mattress Firm's 6,200 Sleep Experts^TM on attributes of Tempur Sealy products that deliver improved sleep to consumers. In January 2021, Tempur Sealy recognized Mattress Firm as the No. 1 Tempur-Pedic Retailer in the U.S. based on the volume of sales achieved during 2020.  Mattress Firm also holds this distinction for Tempur Sealy's Stearns & Foster and Sealy brands.

"This extension of our agreement with Tempur Sealy underscores our mutual commitment to a long-term partnership," said John Eck, President and CEO for Mattress Firm. "With the additional certainty provided by this early extension, we are able to approach product innovation and address consumer needs collaboratively, and with renewed focus. We are very optimistic about what we can achieve together in the years ahead."

"Mattress Firm is a valued retail partner for Tempur Sealy, and the extension of our agreement supports our shared goal of improving lives through better, smarter sleep," added Scott Thompson, CEO and Chairman of Tempur Sealy International, Inc.

About Mattress Firm
For the past 90 years, Mattress Firm has made it easy to get a great night's sleep by providing our customers an expertly curated collection of quality mattresses from the best brands. Today, with more than 2,300 neighborhood stores and a robust product offering on mattressfirm.com, we strive to match every customer with their perfect mattress at the perfect price. Our Sleep Experts™ help more than 3 million people a year find the right solution for their sleep needs. Our selection of mattresses and bedding accessories include leading brands such as Beautyrest®, Nectar®, Sealy®, Serta®, Simmons®, Sleepy's®, Stearns & Foster®, Tempur-Pedic®, Tuft & Needle®, tulo®, and Purple®. We also offer customers Sleep.com as a go-to resource for learning how to sleep better and feel better. Committed to serving our communities, the Mattress Firm Foster Kids program, in partnership with the Ticket to Dream Foundation, joined forces with local foster care non-profit partners to help children in foster care get better sleep so they can shape a better future. For more information, visit http://www.mattressfirm.com.

Media Contact:
Katie Clark
katie.clark@mfrm.com 

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SOURCE Mattress Firm

FAQ

What is the significance of the supply agreement extension between Mattress Firm and Tempur Sealy (TPX)?

The extension of the supply agreement through 2025 solidifies the long-term partnership between Mattress Firm and Tempur Sealy, enhancing consumer access to their mattress products.

When was Mattress Firm recognized as the leading Tempur-Pedic retailer?

Mattress Firm was recognized as the No. 1 Tempur-Pedic retailer in the U.S. based on sales achieved during 2020.

How many locations does Mattress Firm operate?

Mattress Firm operates over 2,300 locations nationwide.

What brands does Mattress Firm offer?

Mattress Firm offers various brands, including Tempur-Pedic, Sealy, Serta, and Stearns & Foster.

What is the expected outcome of the partnership extension for Tempur Sealy (TPX) and Mattress Firm?

Both companies anticipate improved collaboration on product innovation, ultimately enhancing consumer sleep experiences.