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Letters to the editor

By Furniture Today Staff -- Furniture Today, February 16, 2003

Sealy has boosted market share

I am writing in response to David Perry's column on Feb. 10, "Arrogance hurt Sealy on single-sided beds." Specifically, I would like to correct the misrepresentation of facts that led to the erroneous conclusion that competitors with single-sided mattress lines "have been eating Sealy's lunch."

The fact is that Sealy's domestic market share has continued to increase since the introduction of one-sided mattresses. Furniture/Today's own data confirm that Sealy gained market share from 1998 to 2001, as shown below:

In 2002, Sealy sales were up over 5% versus 2001, which indicates we likely grew market share again (52 week calendar basis, including our licensee Sealy of New Jersey).

In comparison, Simmons' unit volume decreased 12% during January-September 2002, according to their SEC filings. This was on top of their 11% unit decline in 2001. Clearly, more consumers have NOT been buying their beds, contrary to what Furniture/Today strongly implied when questioning why we did not follow sooner.

The largest Serta licensee is in bankruptcy, and most industry sources report Serta's total volume declined in 2002.

The bottom line is that Sealy has made the decision to convert Posturepedic to a one-sided line, even while we are gaining market share. Our decision was driven by the opportunity to improve the performance and benefits of our Posturepedic products and enhance their perceived value among consumers.

This will benefit both our retailers and Sealy in terms of greater sales and improved stepups, and provide consumers an even better night's sleep.

David McIlquham, president and chief executive officer, Sealy Inc.

	1998 Mkt. Share₍₁₎	2001 Mkt. Share₍₂₎	Change
Sources: 1. Furniture Today, June 28, 1999 2. Furniture Today, June 17, 2002
Sealy	21.6%	23.1%	+1.5 share points
Simmons	15.4	14.6	-0.8
Serta	16.4	15.8	-0.6
Spring Air	9.9	7.0	-2.9

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