Tempur-Pedic International Inc. (NYSE:TPX) shares suffered a record low and lost as much as 50% after the mattress maker lowered its full-year outlook and admitted it was losing ground to fast-moving competitors in the specialty market it once dominated.
The company’s revenue had grown more than 27 percent over the last two years, mainly because of demand from aging baby boomers, who have been sold on the health benefits of Tempur-Pedic’s high-priced foam-based and other specialty mattresses. Recent guidance signaled that competitors have finally learned to compete in a market that the company had practically created and owned for most of the past two decades.
http://www.pt-news.org/tempur-pedic-international-inc-nysetpx-trims-almost-half-their-value-after-disappointing-investors-tpx-zz-leg-scss/123110/
http://www.pt-news.org/tempur-pedic-international-inc-nysetpx-trims-almost-half-their-value-after-disappointing-investors-tpx-zz-leg-scss/123110/
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