Tempur Sealy Shares Crater On Quarterly Sales Warning

By Claudia Assis Markets MarketWatch Pulse

Tempur Sealy International Inc. shares plunged late Tuesday after the mattress maker and retailer said its third-quarter sales are below expectations and net 2016 sales likely will be 1% to 3% lower than 2015 sales. For the full year 2016, the company expects adjusted earnings to range from $500 million to $525 million, Tempur Sealy said. The company is expected to report third-quarter results Oct. 27. Shares fell nearly 20% in late trading after ending the regular session down 0.1%.

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