Tempur Sealy Shares Crater On Quarterly Sales Warning

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%.