LEXINGTON, Ky., June 19, 2019 /PRNewswire/ -- Tempur Sealy International, Inc. (NYSE: TPX, the "Company") announced plans today to add approximately 700 new U.S. employees to meet growing demand for its Tempur-Pedic, Stearns & Foster and Sealy mattresses and bedding products.
The Company announced yesterday it had entered into long-term supply agreements with Mattress Firm, Inc. ("Mattress Firm") and Big Lots, Inc. ("Big Lots).
The new positions include management, operations and logistics, professional sales and other positions, and are spread across the country.
Tempur Sealy International, Inc. Chairman, President and CEO Scott Thompson commented, "The popularity of our iconic brands, Tempur-Pedic, Stearns & Foster and Sealy, are driving an expansion of our U.S. workforce. All three brands are experiencing growth in the U.S., as our innovative products are being well received by consumers and our powerful omni-channel distribution platform is reaching more in-market consumers."
This press release contains statements that may be characterized as "forward-looking," within the meaning of the federal securities laws. Such statements might 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 word "plans" and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements include, without limitation, statements relating to the Company's expectations for expansion of its work force in the United States in connection with new supply agreements. There can be no assurance that the Company will realize these expectations or that these beliefs will prove correct.
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 occurrence of any event, change or other circumstance that could give rise to the right of the Company, Mattress Firm or Big Lots to terminate the applicable supply agreement; the Company's ability to hire and retain new employees; the Company's ability to successfully implement the launches with Mattress Firm and Big Lots and other new or expanded retail accounts for 2019 and beyond; the impact of the macroeconomic environment in the U.S. on the Company, its business segments, Mattress Firm and Big Lots, as well as the Company's expectations regarding growth of the mattress industry; competition in the Company's industry; consumer acceptance of the Company's products; general economic, financial and industry conditions, particularly conditions relating to the financial performance and related credit issues present in the retail sector; financial distress among the Company's business partners, customers and competitors; and financial solvency and related problems experienced by other market participants.
Other potential risk factors include the risk factors discussed under the heading "Risk Factors" under ITEM 1A of Part 1 of the Company's Annual Report on Form 10-K for the year ended December 31, 2018. There may be other factors that may cause the Company's actual results to differ materially from the forward-looking statements contained herein. The Company undertakes no obligation to update any forward-looking statement contained herein to reflect events or circumstances after the date on which such statement is made.
About the Company
Tempur Sealy International, Inc. (NYSE: 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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