Company looks to 2019 retail expansion plans and begins negotiations with former Mattress Firm landlords
LEXINGTON, Ky., Oct. 23, 2018 /PRNewswire/ -- Tempur Sealy International, Inc. (TPX) announced today the opening of its 25th Tempur-Pedic flagship retail store during 2018. The Company recently opened retail store No. 38 in Roseville, Calif., near Sacramento, featuring Tempur-Pedic, the most highly-recommended bed in America. Next scheduled to open is a new flagship store in Albuquerque, N.M., which is also home to one of the Company's state-of-the-art Tempur-Pedic production facilities. The Albuquerque location is slated to open in the next few weeks, with the 40th store scheduled to open before the end of 2018.
The Company is now turning its attention to expansion plans for 2019 in order to reach even more consumers, targeting 60 to 80 Company-owned store locations by the end of 2019. As a part of this process, the Company is currently evaluating a number of markets and properties, and is in active negotiations with landlords of certain locations previously occupied by Mattress Firm, which recently filed for bankruptcy protection.
Tempur Sealy International, Inc. Chairman, President and CEO Scott Thompson commented, "The expansion of our Company-owned Tempur-Pedic retail stores supports our long-term objective to ensure that our products are properly represented in all channels in order to support how, and where, the consumer wishes to experience and purchase our products. Our Tempur-Pedic flagship locations have complemented our existing distribution channels by increasing brand awareness in local markets, with highly-trained brand ambassadors that provide consumers a best-in-class, educational experience in a very low-pressure sales environment. Customers can experience our complete line of innovative and supportive Tempur-Pedic products at a pace they are comfortable with to determine the product that best suits their personal needs."
This press release may contain "forward-looking statements," within the meaning of the federal securities laws, which statements may include information concerning one or more of the Company's plans, objectives, goals, strategies, and other information that is not historical information. When used in this release, the words "estimates," "expects," "guidance," "anticipates," "projects," "plans," "target," "proposed," "intends," "believes," and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements may include, without limitation, statements relating to the Company's expectations regarding its current Tempur-Pedic flagship locations and broader expansion plans, and the respective impacts those items might have on the Company's strategy and objectives, results of operation, liquidity or financial position. Any forward-looking statements contained herein are based upon current expectations and beliefs and various assumptions. There can be no assurance that the Company will realize these expectations or that these beliefs will prove correct. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made. Numerous factors, many of which are beyond the Company's control, could cause actual outcomes to differ materially from those expressed as forward-looking statements. These risk factors include risks associated with the Company's ability to successfully implement expansion plans for 2019.
About the Company
Tempur Sealy International, Inc. (TPX) develops, manufactures, and markets mattresses, foundations, pillows and other products. The Company's products are sold worldwide through third party retailers, its own stores, and online. The Company's brand portfolio includes many highly recognized brands in the industry, including Tempur®, Tempur-Pedic®, Sealy® featuring Posturepedic® Technology, and Stearns & Foster®. World headquarters for Tempur Sealy International is in Lexington, KY. For more information, visit http://www.tempursealy.com or call 800-805-3635.
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