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Tempur Sealy International, Inc. (NYSE: TPX) is the world's largest bedding provider, known for its innovative and high-quality sleep solutions. The company's distinguished brands include Tempur®, Tempur-Pedic®, Sealy®, Sealy Posturepedic®, Optimum™, and Stearns & Foster®. Operating globally through its North American and international segments, Tempur Sealy develops and distributes bedding products via retail channels such as furniture and bedding retailers, department stores, and warehouse clubs, as well as through e-commerce platforms, company-owned stores, and third-party distributors.
Tempur Sealy is committed to creating the most desired products at every price point, ensuring strong consumer loyalty and recognition as innovators. The company continuously works on expanding its portfolio and improving its supply chain to support retail partners and enhance consumer experiences. Recently, Tempur Sealy announced robust third-quarter financial results for 2023, with noticeable growth in international sales and significant gross margin expansion despite the challenging U.S. bedding market.
The company is also making strides in its planned acquisition of Mattress Firm, with expected completion in mid to late 2024. This acquisition is anticipated to complement Tempur Sealy's product development capabilities with Mattress Firm's retail network. Meanwhile, Tempur Sealy has signed post-closing supply agreements with numerous companies to ensure a diverse range of products for Mattress Firm customers.
Additionally, Tempur Sealy demonstrated strong earnings in the fourth quarter of 2023, attributed to consumer-centric innovation and operational efficiencies. The company introduced new products such as the TEMPUR-ActiveBreeze® smart bed, designed to offer personalized climate control, and the reimagined TEMPUR-Adapt® mattress collection featuring the latest TEMPUR-Material technology.
Tempur Sealy is also dedicated to its environmental and social responsibilities, with a goal to achieve carbon neutrality by 2040. The company's long-term strategies and consistent performance highlight its commitment to improving sleep quality worldwide while generating value for shareholders and stakeholders alike.
Tempur Sealy International, Inc. (NYSE: TPX) has successfully finalized its acquisition of Dreams, a major bed retailer in the UK. This strategic move is anticipated to nearly double the company's international sales and boost its global annualized sales through its direct channel to over $1 billion, representing approximately 25% of total sales. The acquisition will enhance Tempur Sealy's retail capabilities and facilitate growth in the UK market as they integrate Dreams as an independent unit.
Tempur Sealy International (NYSE: TPX) has declared a significant increase of nearly 30% in its third quarter cash dividend to $0.09 per share, payable on August 26, 2021, to shareholders of record as of August 12, 2021. This decision reflects the company's confidence in its growth outlook following the acquisition of Dreams and expansion in direct-to-consumer and OEM channels. The board aims for a dividend rate aligned with 15% of annual EPS, with future evaluations planned annually.
Tempur Sealy International (NYSE: TPX) reported robust Q2 2021 results, showing a 75.8% increase in net sales to $1,169.1 million, compared to $665.2 million in Q2 2020. Notably, net income surged 512.2% to $140.8 million. The company also announced a 29% increase in quarterly dividends, now at 9 cents per share. With the upcoming acquisition of Dreams, expected to boost annual sales by around $450 million, the firm raised its 2021 sales growth guidance to exceed 35%. Adjusted EPS is projected between $3.10 and $3.25.
Tempur Sealy International, Inc. (NYSE: TPX) is set to release its financial results for the second quarter ending June 30, 2021, prior to the NYSE's regular trading opening on July 29, 2021. The company will conduct a conference call at 8:00 a.m. Eastern Time to discuss these results, which will be webcast and accessible via the company's investor relations website. Tempur Sealy is recognized globally for its bedding products, with a commitment to enhancing sleep quality for consumers in over 100 countries.
Tempur Sealy International (NYSE: TPX) announced its Sealy® and Tempur-Pedic® brands as the top two best-selling mattress brands in the U.S., according to Furniture Today's report. Sealy's sales surged by 14.6% to over $1.6 billion, while Tempur-Pedic saw a remarkable 23.5% increase, reaching nearly $1.4 billion in 2020. This marks the second consecutive year for Sealy at #1. Additionally, Tempur-Pedic was recognized for customer satisfaction by J.D. Power, further cementing their leadership in the mattress industry.
Tempur Sealy International (NYSE: TPX) announced the establishment of a new foam-pouring plant in Crawfordsville, Indiana, which will be the largest manufacturing facility in its portfolio. Construction is set to start in Q3 2021 on a 130-acre site, with initial operations planned for 2023. The facility will span 700,000 square feet, with the potential to expand to 1 million square feet, employing around 300 local workers. The investment is aimed at meeting growing demand for Tempur Sealy's products.
Tempur Sealy International (NYSE: TPX) announced it will host a fireside chat at the Piper Sandler 41st Annual Consumer Marketplace Conference on June 3, 2021, at 9:15 a.m. ET. Scott Thompson, Chairman, President and CEO, will present.
The event will be webcasted and accessible on the company's investor relations website. Tempur Sealy is a global leader in bedding products, dedicated to enhancing sleep quality worldwide through innovation and consumer-focused strategies.
Tempur Sealy International (TPX) reported a strong sales outlook for Q2 2021, projecting a net sales growth of approximately 60% compared to Q2 2019. This growth is attributed to increased demand for higher-margin Tempur-Pedic products. The company also noted improved supply availability but acknowledged potential supply constraints. Furthermore, Tempur Sealy announced plans to acquire Dreams, a leading UK specialty bed retailer, expected to enhance its presence in the European market.
Tempur Sealy International (NYSE: TPX) announced its acquisition of Dreams, a top UK specialty bed retailer, for approximately $475 million. This strategic move aims to enhance growth in Europe's largest bedding market. Dreams reported $400 million in sales and $75 million EBITDA for 2020, expecting to generate $450 million in annual sales post-acquisition. The deal, expected to close in Q3 2021, is projected to be accretive to EPS by $0.20 in the first year. This acquisition aligns with Tempur Sealy's strategy for expanding its international footprint.
Tempur Sealy International, Inc. (NYSE: TPX) has announced an increase in its share repurchase program to $400 million. In Q1 2021, the company repurchased approximately 8.4 million shares, utilizing about $300 million of the previous authorization. They aim to repurchase at least 6% of outstanding shares within 2021. Share repurchases may occur through various methods, and the program can be modified or suspended at any time. The company highlights the potential for fluctuating market conditions impacting its repurchase strategy.
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