Tempur Sealy Announces Contract Extension With Mattress Firm Inc.
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LEXINGTON, Ky., Aug. 19, 2021 /PRNewswire/ -- Tempur Sealy International, Inc. (NYSE: TPX, "Tempur Sealy" or "the Company") today announced that it has signed a multi-year extension to its current supply agreement with Mattress Firm, Inc. ("Mattress Firm"), the largest specialty mattress retailer in the U.S. The new extension is on the same terms as the current agreement.
Tempur Sealy entered into a mutually beneficial agreement with Mattress Firm in 2019 to supply them with Tempur Sealy's portfolio of highly innovative and highly sought-after products. Distribution of the Company's Sealy and Tempur mattress brands, now the number one and number two top selling brands in the U.S.*, through more than 2,300 Mattress Firm stores provides consumers with additional purchasing options consistent with the Company's strategy of ensuring its products are available how and where the customer wants to shop. The relationship has resulted in strong sales for both Tempur Sealy and Mattress Firm.
Tempur Sealy International, Inc. Chairman and CEO Scott Thompson commented, "Mattress Firm is a valued retail partner and we are thrilled with the growth potential the extension of our agreement provides for both companies. We believe it also creates a stronger domestic bedding industry, which since 2019 has realized increasing average selling prices and experienced growing advertising share of voice for bedding products engaging consumers and driving foot traffic to all stores."
About the Company
Tempur Sealy is committed to improving the sleep of more people, every night, all around the world. As a global leader in the design, manufacture and distribution of bedding products, we know how crucial a good night of sleep is to overall health and wellness. Utilizing over a century of knowledge and industry-leading innovation, we deliver award-winning products that provide breakthrough sleep solutions to consumers in over 100 countries.
Our highly recognized brands include Tempur-Pedic®, Sealy® and Stearns & Foster® and our non-branded offerings include value-focused private label and OEM products. Our distinct brands allow for complementary merchandising strategies and are sold through third-party retailers, our Company-owned stores and e-commerce channels. This omni-channel strategy ensures our products are offered where ever and how ever customers want to shop.
Lastly, we accept our global responsibility to serve all stakeholders, our community and environment. We have and are implementing programs consistent with our responsibilities.
*See Furniture Today's Top 20 U.S. Bedding Producers methodology that includes SEALY® and STEARNS & FOSTER® products in Sealy ranking. https://www.furnituretoday.com/research-and-analysis/top-bedding-producers-tsi-brand-duo-takes-top-two-spots/
Investor Relations Contact
Aubrey MooreInvestor RelationsTempur Sealy International, Inc.800-805-3635Investor.email@example.com
SOURCE Tempur Sealy International, Inc.
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