Tempur-Pedic Projects Records for First-Quarter Sales, Earnings
LEXINGTON, Ky.-Tempur-Pedic said it expects record net sales and earnings for its fiscal first quarter.
When the numbers are counted, according to a preliminary company statement, first-quarter sales should total about $325 million, while earnings per share should come in at between 67 cents and 68 cents. "First-quarter sales and profits exceeded our prior expectations in both our North American and international segments," said Mark Sarvary, Tempur-Pedic's CEO. "During the quarter, we made progress in our effort to enhance our product range and significantly increased our investment in consumer marketing, as we seek to capitalize on the considerable market-share opportunity we see for our brand."
The company also predicted that sales for the entire 2011 fiscal year should be $1.31 billion to $1.36 billion. It also expects earnings to range between $2.80 to $2.95 per share.