Tempur Sealy Reports Record First Quarter Results
-Net Sales Increased 27%, Direct Channel Net Sales Increased 62%
-EPS Increased 121% to $0.62, Adjusted EPS Increased 88% to $0.64
-Raises 2021 EPS Guidance Range to $2.50 to $2.70
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LEXINGTON, Ky., April 29, 2021 /PRNewswire/ Tempur Sealy International, Inc. (NYSE: TPX) announced financial results for the first quarter ended March 31, 2021. The Company also raised its financial guidance for the full year 2021.
FIRST QUARTER 2021 FINANCIAL SUMMARY
Total net sales increased 26.9% to $1,043.8 million as compared to $822.4 million in the first quarter of 2020. On a constant currency basis
(1), total net sales increased 25.1%, with an increase of 27.3% in the North America business segment and an increase of 13.8% in the International business segment.
THE IMPACT two proposed Co-op convenience stores could have on local shops – as well as Shetland food producers – has been raised at Westminster by Northern Isles MP Alistair Carmichael.
It comes after the Liberal Democrat wrote to Shetland Islands Council planning staff to outline his concerns over the proposals.
National retailer Co-op hopes to open two stores at Stove in Sandwick and East Voe in Scalloway in a £1.2 million investment which could create up to 30 new jobs.
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However, the local retail sector says they could have a significant impact on local shops in the villages as well as wholesalers and suppliers – potentially causing the loss of far more jobs.
April 29, 2021, 5:00 a.m. ET
Procter & Gamble is raising prices on items like Pampers and Tampax in September. Kimberly-Clark said in March that it will raise prices on Scott toilet paper, Huggies and Pull-Ups in June, a move that is “necessary to help offset significant commodity cost inflation.”
And General Mills, which makes cereal brands including Cheerios, is facing increased supply-chain and freight costs “in this higher-demand environment,” the company’s chief financial officer, Kofi Bruce, said on a call with analysts.
These price increases reflect what some economists are calling a major shift in the way companies have responded to demand during the pandemic.
TOKYO (Reuters) - Japanese business leaders and a Nobel-prizewinning biologist called upon the government to reform its vaccination programme, including allowing drive-through inoculations, as the nation struggles to contain a resurgence of the COVID-19 pandemic. Japan has secured the largest quantity of COVID-19 vaccines in Asia, as it gears up for the summer Olympics. But it has inoculated only 1.6% of its population so far, the slowest among wealthy countries. Government data on Wednesday showed that Japan has only used about a fifth of the coronavirus vaccine doses it has imported so far, underscoring logistical hurdles such as a shortage of medical staff. Twenty-four business leaders, including e-commerce group Rakuten s CEO Hiroshi Mikitani, and Nobel-winning stem cell biologist Shinya Yamanaka said a bolder and coordinated effort was needed to speed up vaccinations. The government and local administrations must not be constrained by outdated thinking and must make effective use