LEXINGTON, Ky., April 29, 2021 /PRNewswire/ — Tempur Sealy International, Inc. (NYSE: TPX, “Company” or “Tempur Sealy”) today announced that its Board of Administrators has greater the authorization under the Firm’s share repurchase system to a complete of $400 million. In the initially quarter of 2021, Tempur Sealy utilized about $300 million below its current authorization to repurchase approximately 8.4 million shares. The Enterprise expects to repurchase at least 6% of shares superb in 2021.
Stock repurchases under this plan might be designed through open up industry transactions, negotiated purchases or normally, at moments and in this sort of amounts as administration deems appropriate. The timing and actual selection of shares repurchased will count on a wide range of elements together with selling price, funding and regulatory needs and other market place problems. The program does not call for the buy of any bare minimum selection of shares and may possibly be suspended, modified or discontinued at any time without prior see. Repurchases may be designed underneath a Rule 10b5-1 prepare, which would allow shares to be repurchased when the Business might or else be precluded from accomplishing so less than federal securities rules.
This push launch consists of statements that may possibly be characterised as “ahead-seeking” in the this means of the federal securities rules, which involves data about one or much more of the Company’s ideas, goals, plans, approaches, and other information that is not historical information and facts. When used in this release, the words “expects,” “will,” “must,” “would” and variations of this kind of words or similar expressions are meant to detect these statements. These forward-looking statements include, devoid of limitation, statements relating to the Firm’s share repurchase program and the Company’s expectations concerning foreseeable future overall performance and operating dollars move. Any ahead-looking statements contained herein are based mostly upon present-day expectations and beliefs and numerous assumptions. There can be no assurance that the Corporation will understand these anticipations or that these beliefs will verify suitable.
Quite a few aspects, numerous of which are over and above the Company’s control, could result in precise effects to differ materially from any that might be expressed as forward-wanting statements. These possibility factors include threats involved with standard financial, financial and industry situations, specially circumstances relating to the economic efficiency and related credit difficulties existing in the retail sector, as nicely as client self-confidence and the availability of purchaser financing the Company’s capacity to execute on its acquisition, integration and enlargement techniques the effect of the macroeconomic atmosphere in both equally the U.S. and internationally on the Business uncertainties arising from nationwide and world-wide events the outcome of upcoming legislative or regulatory changes, which include adjustments in intercontinental trade, responsibilities, tariffs and other factors of intercontinental trade plan market competitiveness the consequences of consolidation of merchants on revenues and charges and buyer acceptance of and adjustments in demand from customers for the Company’s items.
Other potential hazard components include the risk variables talked over underneath the heading “Danger Things” in Item 1A of Component 1 of the Firm’s Yearly Report on Kind 10-K for the yr finished December 31, 2020. There could be other aspects that may possibly lead to true final results to vary materially from the forward-wanting statements contained herein. The Corporation undertakes no obligation to update any ahead-looking assertion contained herein to mirror events or situation following the date on which this kind of assertion is manufactured.
About Tempur Sealy Global, Inc.
Tempur Sealy is fully commited to bettering the sleep of much more people today, each night, all close to the entire world. As a world-wide chief in the style and design, manufacture and distribution of bedding products, we know how critical a great evening of snooze is to all round overall health and wellness. Using about a century of awareness and business-leading innovation, we supply award-profitable items that deliver breakthrough sleep options to consumers in around 100 nations around the world.
Our remarkably recognized brands include Tempur-Pedic, Sealy® featuring Posturepedic® Know-how, and Stearns & Foster® and our non-branded choices involve worth-centered personal label and OEM products and solutions. Our distinct brand names allow for for complementary merchandising methods and are sold by way of 3rd-get together shops, our Corporation-owned outlets and e-commerce channels. This omni-channel system makes sure our products and solutions are supplied where ever and having said that buyers want to store.
Lastly, we take our world-wide responsibility to provide all stakeholders, our community and atmosphere. We have and are applying programs constant with our tasks.
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