Mattress maker stocks sink on signs of weak Memorial Day sales [MarketWatch]
Tempur Sealy International, Inc. (TPX)
Last tempur sealy international, inc. earnings: 4/30 06:37 am
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Source: MarketWatch
That "negative" sales weekend came despite what Basham said in a pre-weekend note were signs of "incremental promotional intensity" and "outsized discounting" to goose sales. Shares of Tempur Sealy International Inc. TPX, sank 6.3% in morning trading, Purple Innovation Inc. PRPL, slid 5.6% and Sleep Number Corp. SNBR, dropped 5.9%. The selloff compares with the S&P 500's SPX, 0.6% decline. "Our Memorial Day weekend mattress sales checks with retailers and industry contacts leaned negative, with total bricks-and-mortar sales flat-to-down [last-seven-days, year-over-year], and implying industry unit sales down mid-single- to high-single digits for the holiday period," Basham wrote in a note to clients. Basham said there's evidence that sales for mattresses priced below $1,000 saw larger sales declines, while premium and luxury priced mattresses fared better but saw "waning" demand.
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TPX
News
- Tempur Sealy International to Report First Quarter Financial Results and Provide Update on the Status of the Proposed Mattress Firm AcquisitionPR Newswire
- Q4 Rundown: Tempur Sealy (NYSE:TPX) Vs Other Home Furnishings Stocks [Yahoo! Finance]Yahoo! Finance
- Tempur Sealy International, Inc. (NYSE: TPX) had its "outperform" rating re-affirmed by analysts at Wedbush. They now have a $66.00 price target on the stock.MarketBeat
- Tempur Sealy International, Inc. (NYSE: TPX) had its price target raised by analysts at Truist Financial Co. from $60.00 to $65.00. They now have a "buy" rating on the stock.MarketBeat
- Ashley Expands Tempur-Pedic® Assortment with New TEMPUR-Adapt® Collection [Yahoo! Finance]Yahoo! Finance
TPX
Earnings
- 2/8/24 - Miss
TPX
Sec Filings
- 3/27/24 - Form DEFA14A
- 3/27/24 - Form DEF
- 3/12/24 - Form 8-K
- TPX's page on the SEC website