Tempur Sealy reports loss as gross margin falls
July 25 (Reuters) - Mattress maker Tempur Sealy International Inc posted a quarterly loss, hurt by a steep decline in its gross margin.
The company, which completed its purchase of Sealy on March 18, reported a net loss of $1.6 million, or 3 cents per share, for the second quarter compared with a profit of $29.1 million, or 46 cents per share, a year earlier.
On an adjusted basis, Tempur Sealy earned 36 cents per share. Sales more than doubled to $660.6 million in the quarter due to the inclusion of Sealy sales.
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