Posturepedic Optimum debut sends Sealy sales up 9.4%

Larry Thomas -- Furniture Today, September 27, 2012

ARCHDALE, N.C. — Driven by the launch of its Posturepedic Optimum specialty bedding line, Sealy's third quarter sales jumped 9.4%, the company reported.

The company, which also announced Thursday it had agreed to be acquired by rival Tempur-Pedic, said its sales growth in the U.S. was especially strong at $286.2 million, an 11.2% increase over last year's third quarter.

Sealy said its average unit selling price in the U.S. rose 7.6%, while wholesale unit volume was up 2.7%. The jump in the average unit selling price was aided by the success of the Optimum line and the Next Generation Stearns & Foster line, which was unveiled earlier this year.

Worldwide sales for the quarter ended Aug. 26 totaled $365.4 million, up from $334.1 million in the same quarter last year.

The company recorded a net loss of $106,000 for the quarter due largely to increased expenses related to the Optimum product launch. Those costs included $6.6 million for national advertising, the company said.

In last year's third fiscal quarter, the Sealy had net income of $6.6 million, or 4 cents per share.

For the nine months ended Aug. 26, worldwide sales increased 3% to $989.8 million.

Nine-month net income totaled $2.81 million or 2 cents per share. That was down from $5.32 million or 7 cents per share in the first nine months of the previous fiscal year.