Barclays Channel Checks Into Holiday Mattress Sales; Competition Stiffens

Barclays analyst, Jessica Schoen, did channel checks on Tempur-Pedic (NYSE: TPX) and sales of its memory foam mattresses during the Memorial Holidays.

Schoen found that the specialty mattresses are still in the most popular, however, several competitors, including Serta's iComfort, Simmons's Phenom, and Sealy's Optimum are moving in.

Also, Schoen noticed that The Tempur Cloud Supreme had been marked down by $500, along with other mattresses being marked down $100. She is now becoming more cautious on the company and stock and competition intensifies and strategies change.

Note - channel check were performed in New York, New England and Texas. Schoen currently maintains an 'Equalweight' rating on Temper-Pedic (NYSE: TPX). Price target $63.

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