LEXINGTON, Ky. – Tempur Sealy International is capitalizing on consumers’ increasing focus on the home during the COVID-19 pandemic, the company’s CEO says.
“The global bedding industry is experiencing strong demand,” Scott Thompson, TSI’s chairman and CEO, told Furniture Today as the company released its second quarter results. “The recent shift in consumer behavior has resulted in increased spending in the home category. Tempur Sealy capitalized on this market shift, and we experienced accelerating sales trends throughout the second quarter.”
Thompson said those positive trends continued to accelerate after the second quarter ended on June 30.
“Currently, we are experiencing quarter-to-date growth in all countries in which we operate,” he said. “The accelerating demand for our products combined with the prioritization of key manufacturing inputs for PPE usage has put stress on certain components of our supply chain and our U.S. Sealy manufacturing operations, which we continue to work through.”
TSI’s omnichannel business model is performing well, according to Thompson.
“Tempur-Pedic is the worldwide leader of premium bedding products,” he noted. “Tempur products are experiencing over 100% growth online in the U.S., and the new Tempur-Cloud compressed mattress has been a wild success. Customers love shopping both online and offline and are comfortable with making a major purchase from a trusted manufacturer.”
Thompson also said that TSI is winning in the evolving marketplace with nimble moves.
“There has been a lot of talk about traditional bedding companies being disrupted by Internet marketing companies over the past few years,” he observed. “The reality is that Tempur Sealy continues to do very well in the evolving market as a result of adapting our distribution strategy to take advantage of the changing landscape in a highly profitable way.”