Tempur Sealy provides upbeat sales outlook as orders have accelerated

Tempur Sealy International Inc. TPX, +0.52% provided an upbeat second-quarter sales outlook on Thursday, as orders have accelerated since the end of March. The mattress seller now expects sales to rise 60% above the same period in pre-pandemic 2019, while the current FactSet sales consensus of $1.07 billion implies 48% growth. The company said the improved outlook is a result of growth in demand for Tempur-Pedic products in the U.S., which are higher margin than the company's average. Separately, the company anno7unced an agreement to buy U.K.-based bed retailer for £340 million ($482 million). Tempur Sealy's stock, which was little changed in premarket trading, has rallied 36.5% year to date, while the S&P 500 SPX, +0.19% has gained 11.7%.