Sealy raising wholesale bedding prices 6%
By David Perry -- Furniture Today, March 28, 2004
TRINITY, N.C. — TRINITY, N.C. — Responding to rapidly rising steel prices, bedding sales leader Sealy said it is raising wholesale bedding prices by 6% on average, effective May 1.
The price increase will affect all mattresses and box springs across its entire line, including Sealy, Stearns & Foster and Bassett.
Sealy officials said the general market price for the commodity steel drawn wire used in Sealy products has increased about 45% in the past year, with further increases anticipated soon. Steel is one of the primary materials used in mattresses, and Sealy said it no longer could absorb the ongoing cost increases.
Other bedding producers are expected to raise their wholesale bedding prices.
"Rising steel costs will impact the entire innerspring mattress industry as well as other industries that use steel in their products," said Dave McIlquham, Sealy president and CEO. "Many industries are responding to the rising cost of steel with higher prices or surcharges, and the mattress industry must do the same.
"Sealy has a long history of working closely with our retailers to provide high-quality bedding and great values for the consumer," he continued. "To that end, we have planned the implementation of these unavoidable increases to enable retailers to make the changes effectively."
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