Mattress Firm Selling Tempur Pedic Again Current News
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Supply concatenation mess 'continues to be a challenge,' Tempur Sealy CEO explains
Supply chain problems may be keeping many Americans up — literally — due to backlogs experienced by the world'southward largest bedding provider.
"We're seeing it a little bit in trucking, obviously the aircraft, a picayune scrap in the component issues, primarily chemicals, ... it's getting better, just it continues to be a claiming," Scott Thompson, chairman, president, and CEO of Tempur Sealy, told Yahoo Finance Live (video above). "And nosotros think we'll be working through supply issues probably here for the next couple of quarters."
Tempur-Pedic, the leading maker of retention-foam mattresses, bought competitor Sealy in 2012 and created Tempur Sealy International.
Thomspon noted that Tempur Sealy has about 100 meg orders in its excess to be delivered in the fourth quarter.
"In fact, we expect fourth quarter to be a tape fourth quarter, because of the force of the business," he said.
The company also had turned down another 100 million orders, according to Thompson. If Tempur Sealy had been able to fill all the orders information technology received, sales would accept been up xl% year-over-year in the third quarter, rather than the 20% information technology reported, he added.
"It's a little disappointing, merely look, it's a proficient fourth dimension to be in the bedding business worldwide," Thomspon said. "And we experience very fortunate."
Supply concatenation snags: Tempur Sealy to enhance already raised prices
Many companies have begun introducing price increases on household products, while economists continue to argue whether the inflation that the U.S. economy is experiencing is transitory or not.
Thompson said his company had already raised prices on mattresses three times in the last twelve months, and "would probably have to do another round hither pretty soon."
Some of the master factors pushing prices up are the many containers stranded at sea and the trucking routes that continue to exist chock-full.
And even though some containers are being unloaded, at that place's picayune space to put them. The lack of storage space for containers has contributed to a major bottleneck at Southern California ports, a Yahoo Finance report found. Every bit a result, empty containers are piled up at truck yards, outside warehouses, and some are even dumped on the side of the road.
"You see it a little flake everywhere," Thompson said, referring to how his visitor has been impacted by the supply chain pain. "We actually sell beds in a hundred dissimilar countries around the globe, so we're everywhere. Where the biggest problem is [is] in the United States."
—
Aarthi is a reporter for Yahoo Finance. She can be reached at aarthi@yahoofinance.com. Follow her on Twitter @aarthiswami .
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Source: https://finance.yahoo.com/news/supply-chain-challenge-mattress-company-ceo-184244841.html
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