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Fidelity's Tillinghast Cuts Cash Position, Bets On Mattresses
Not mentioned in the article (surprising for an article with an Oct 3 dateline) is that Tempurpedic announced on Sept 27 that it would acquire Sealy. Hard to get a complete picture on that, though.
The WSJ (Heard on the Street) says that Tempurpedic was getting squeezed in the upscale foam mattress sector by Sealy and Serta who were moving into the foam market with a lower(midpriced) price point. Yet the Bloomberg (via SF Chronicle) article says that the upper and lower ends of the market are doing fine, but that the midpriced market that Sealy represents is having problems.
I don't normally follow individual stocks, but I happen to be in the market for a mattress now. As a memory foam hater, I'll say that Sealy's new foam mattresses aren't bad, and do hit a good price point (as Bloomberg points out). Serta's been busy moving technology down line - also adopting some of the design of its upscale Stearns & Foster line into its Posturpedic main line.
Looking at their prices these days, I find it gives a whole new meaning to keeping money in your mattress. We'll see if these really do last the 20+ years that are advertised.
Comments
The WSJ (Heard on the Street) says that Tempurpedic was getting squeezed in the upscale foam mattress sector by Sealy and Serta who were moving into the foam market with a lower(midpriced) price point. Yet the Bloomberg (via SF Chronicle) article says that the upper and lower ends of the market are doing fine, but that the midpriced market that Sealy represents is having problems.
I don't normally follow individual stocks, but I happen to be in the market for a mattress now. As a memory foam hater, I'll say that Sealy's new foam mattresses aren't bad, and do hit a good price point (as Bloomberg points out). Serta's been busy moving technology down line - also adopting some of the design of its upscale Stearns & Foster line into its Posturpedic main line.
Looking at their prices these days, I find it gives a whole new meaning to keeping money in your mattress. We'll see if these really do last the 20+ years that are advertised.