Tempur Sealy International said it expects to report 2022 first-quarter consolidated net sales growth of about 15% year over year when it gives its quarterly update during its earnings call with investors and analysts next month, according to a Thursday (March 31) press release.
That optimism is tempered by the company’s international sales, which have been affected by the Russia-Ukraine war and falling consumer confidence, as well as the continued spread of the pandemic around the world, particularly during the height of the omicron variant of the coronavirus.
“We expect that the first quarter of 2022 will be the 10th out of the last 11 quarters that we have delivered double-digit sales growth,” said Tempur Sealy Chairman and CEO Scott Thompson in the release.
Tempur Sealy is “committed to making investments in marketing, product launches and our operations this year to support the long-term growth trajectory of the business,” said Thompson, but the company is pushing off the planned launch of its new international line until the first quarter of 2023.
The company will release its financial results for the first quarter, which ends Thursday, before the opening of regular trading on the New York Stock Exchange (NYSE) April 28 and hold a conference call to discuss those results at 8 a.m. Eastern time.
Earlier this year, Mattress Firm Group went public on the NYSE under the ticker symbol MFRM.
Read more: Mattress Firm Group Begins IPO Process
Mattress Firm was acquired by South African retail company Steinhoff International Holdings in 2016 for $3.8 billion. Two years later, the mattress retailer filed for Chapter 11 bankruptcy protection and closed 700 stores across the U.S. before emerging from bankruptcy in November 2018.
It has 2,300 retail stores nationwide, the largest retail footprint in the category.
Mattress Firm doesn’t have its own products, but it carries brands including Tempur-Pedic, Sealy and Nectar.
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