Investing.com - Mattress and furniture industry sales rose an estimated 1% to 2% during the Memorial Day weekend period, according to Raymond James channel checks conducted over recent days with private retailers and industry participants nationwide.

The firm said bedding outperformed the broader furniture category during the holiday promotional period. Business trends softened in April and into early May ahead of Memorial Day promotions, suggesting consumers remain selective and promotion-driven given the current macro backdrop. Raymond James estimates second-quarter sales to date are tracking better than first-quarter industry trends.

Memorial Day promotional activity across bedding and furniture was generally stable to modestly higher year-over-year, though trends varied by brand and retailer. Tempur Sealy International (NYSE: TPX) Tempur-Pedic promotional activity was largely consistent with last year on a total dollars-off basis. Sleep Number Corporation (NASDAQ: SNBR) was less promotional from a dollars-off perspective and offered shorter 0% financing duration year-over-year.

Purple Innovation was less promotional year-over-year across its lower-priced mattress lineup and financing offers, though promotional activity increased within the Rejuvenate collection. Furniture promotions across tracked retailers were generally higher or consistent year-over-year.

Raymond James said incremental commodity cost inflation, particularly related to foam, chemicals, freight and fuel, is expected to place upward pressure on retail ticket prices over the coming months. Tempur Sealy International is targeting price increases following the July 4 promotional period.