Why Are Tempur Sealy Shares Trading Lower Today

by Shivani Kumaresan, Benzinga Staff Writer

March 31, 2022 8:50 AM | 1 min read | Make a Comment

Tempur Sealy International TPX said it expects first-quarter FY22 sales growth of 15% year-over-year.
The company specified that recent geopolitical events, falling consumer confidence, and new COVID variant outbreaks in international markets have resulted in sales below its expectations following a strong Presidents' Day sales period.
Tempur Sealy said it has elected to postpone the launch of the new international line of Tempur products planned for 2022 to the first quarter of 2023, following the recent geopolitical uncertainty in Europe.
Tempur will release its Q1 financial results before the NYSE opening of regular trading on April 28, 2022.
Related: Tempur Sealy's Q4 Results
Price Action: TPX shares are trading lower by 5.14% at $27.50 in premarket on the last check Thursday.