Urethane Blog

Slowing Mattress Sales in September

October 11, 2022

Tempur Sealy, mattress stocks tumble on soft sales survey

Oct. 11, 2022 11:09 AM ETTempur Sealy International, Inc. (TPX), SNBR, PRPLBy: Kevin P. Curran, SA News Editor1 Comment

Tempur + Sealy sign is seen at Sealy Canada Ltd head office in Scarborough, On., Canada

Mattress manufacturers Tempur Sealy International (NYSE:TPX), Sleep Number (NASDAQ:SNBR), Purple Innovation (NASDAQ:PRPL) slid on Tuesday after Piper Sandler signaled slowing September sales.

Equity analyst Peter Keith pointed to a survey conducted by his firm that reflected a 5% decline in sales amongst the group from 2021. The drop comes only about a month after sales rose sharply surrounding the Labor Day holiday.

“While this was an improvement from prior months (on a mean basis), it suggests a notable drop-off for the 2nd half of September following Labor Day weekend,” Keith told clients.

Shares of Tempur Sealy International (TPX) fell 4.12% and Sleep Number (SNBR) slid 3.68%. Purple Innovation (PRPL), by contrast, see-sawed between positive and negative territory.

Elsewhere, Leggett & Platt shares plummeted after the company cut its guidance.


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