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Tempur Sealy's net income drops 10.6%

Tempur Sealy International experienced a 10.6% decline in net income for the first quarter ending on March 31, with net income falling to $76.3 million from $85.3 million in the same quarter last year. Additionally, first-quarter sales decreased by 1.5% to $1.19 billion compared to $1.2 billion in the previous year's quarter.


Internationally, net sales through the wholesale channel increased by $600,000, or 0.6%, while net sales through the company's direct channel decreased by $800,000, or 0.4%, compared to the first quarter of 2023.

Tempur Sealy's chairman and CEO, Scott Thompson, expressed satisfaction with the first-quarter performance despite challenging global conditions. He highlighted the positive reception to new product launches, ongoing marketing efforts, and operational efficiencies as drivers of industry outperformance.


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