The maker of TempurPedic mattresses is crashing by more than 25% (TPX)
|09/28/2016||Posted by BusinessMediaguide.Com under General World News||
Tempur Sealy, the maker of TempurPedic mattresses and other bedding products, reported a dismal update on its business sending its shares in a tailspin.
The firm said it expects full year sales for 2016 to be down 1% to 3% from 2015 and expected EBITDA of $500 to $525 million for the full-year, 5% lower than the company’s previous projection.
CEO Scott Thompson said net sales for the third quarter were also “below expectations.”
The company, however, still expects growth for the year, just lower than previously thought.
“The midpoint of this updated guidance implies an increase in adjusted EBITDA of approximately 12% read more >>>