Main Menu
Home
In the News
Special Contributors
Special Report - Bedding
Sponsors
Events Calendar
Classifieds
Advertising
Contact HGO
Home
follow-on-twitter
Merchandiser Winter 2015
Merchandiser Fall 2014
2014 Product Guide
Research Store

Canada Counts
CanadaCounts-Badge-Sept2012.fw
A survey of Canadian buying intentions.
Purchase Report

 

Syndicate
Sealy Canada Q1 sales up 10.2% PDF Print E-mail
Written by HGO Staff   

ARCHDALE, North Carolina (02 April 2012) - Sealy Canada sales were up 10.2% in the first quarter of its new fiscal year, according to a report filed by its parent company with the U.S. Securities & Exchange Commission. That uptick helped spur Sealy Inc.'s worldwide sales up 2.2% to US$312.3 million.

The publicly-held mattress giant said sales for its wholly-owned Canadian subsidiary were C$47.9 million for the three months ending February 26, 2012. Sales for the comparable period were C$43.5 million.

Expressed in U.S. dollars, Sealy Canada sales were US$47.1 million, compared to US$43.5 million.

"In Canada, local currency sales increases of 10.2% translated into increases of 8.2% in U.S. dollars due to a weaker Canadian dollar," Sealy told the S.E.C. "Local currency sales performance in Canada was driven by a 15.5% increase in unit volume, offset by a 4.6% decrease in average unit selling price. The increase in unit volume and decrease in average unit selling price was attributable to strategic promotional events to drive higher unit volumes and market share."

The Canadian operation's gross profit climbed to C$19.7 million (US$19.4 million) from C$18.2 million (US$18.2 million).

"In local currency, the gross profit margin in Canada was 41.1% as a percentage of net sales, which represents a decrease of 0.8 percentage points," the company said. "This decrease was primarily driven by the impact of the promotional events discussed above relating to a decrease in average unit selling price."

Sealy Canada remains the company's largest non-U.S. division, representing 15.1% of worldwide sales.

Total international sales rose 7.7% to US$71.9 million.

Sealy president and chief executive officer Larry Rogers attributed the increase to improved results not only in Canada but in Argentina and Mexico as well.

Worldwide sales of US$312.3 million for the fiscal first quarter were up 2.2% year-over-year as Sealy reversed its year-ago loss of US$902,000 or one cent per share to report a modest profit of US$1.2 million or one cent per share.

The company's U.S. sales rose 0.7% to US$240.3 million, driven mainly by a 4.3% increase in average unit prices as unit volumes fell 4.0%.

"We delivered positive financial and operational performance in the first quarter of 2012," Rogers said in a statement. "Our positive sales, gross margin and adjusted EBITDA performance for the quarter were driven by the success of our Next Generation Stearns & Foster line, which began shipping in the fourth quarter of 2011."

Looking ahead, Rogers said the company will focus on driving performance of the Next Generation at retail while initiating the rollouts of the new, value-priced Sealy promotional line, and the premium priced Optimum by Sealy Posturepedic line - primarily in the U.S. The company did not say when these new offerings, which were introduced at the Las Vegas Market this past January, will be available to retailers in Canada.

<Previous   Next>
Banner
Other News
Zucora to rep FTC in Canada
LONDON, Ontario (20 March 2015) - Added value resource Zucora has been named the exclusive Canadian representative for the Furniture Training Company (FTC),  a provider of retail furniture sales training and education programs.
Read more...
Dorel sees 10% revenue gain for 2014
MONTREAL (16 March 2015) - While revenues were up for Dorel Industries in 2014, the publicly-held consumer goods giant reported a net loss for both the fourth quarter and the year after accounting for impairment losses on goodwill and trademarks as well as restructuring and other costs.
Read more...
Tepperman's celebrates 90th by donating $30,000 in local scholarships
WINDSOR, Ontario (16 March 2015) - To mark its 90th anniversary, Tepperman's Furniture will donate some $30,000 in scholarships to students living within the four communities in which its operates stores.
Read more...
CHFA names 2015 award recipients
MISSISSAUGA, Ontario (16 March 2015) - The Canadian Home Furnishings Alliance has announced the 2015 recipient of its Retailer of the Year Award will be Ameublements Tanguay and the 2015 Lifetime Achievement Award honouree will be Zaher ‘Jim' Sunderji, chief executive officer of Dynasty Furniture.
Read more...
Banner

 

 .

Banner

Please, update your HGO profile

BRIGHTON, Ontario – To improve the efficiency of our newsletter delivery service and to bring ourselves in alignment with current Canadian legislation, we need our loyal readers to update their profiles.

If you’re in big ticket home goods, you can’t be without Home Goods Online – the only business-to-business news and information service for those working in Canada’s furniture, mattress, major appliance and consumer electronics industries.

Update Your Profile Now
Picture of the Day
Marshall-Heritage (PD)

Marshall Mattress, which is celebrating the 115 th anniversary of its founding this year, has created the Heritage, seen here, in honour of its 50-year working relation with Hudson’s Bay. It will be sold solely of the floors of its 57 mattress carrying department stores across and the country and will be made only until the end of September. Click here for our report.


 

 

Banner
 
Banner
Banner
Donald Cooper
My Turn!
HGO Merchandiser
Banner
Upcoming Events
There are no upcoming events within the search range currently scheduled.
View Full Calendar