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Tempur has announced shareholders can expect significant first quarter losses after prices hit a new low on Monday, March 17th.
Shares fell 37.7 per cent, or $6.36 to $10.50 by close, having opened on just $10 and slipping below that marker to a $9.51 low for the first time ever, according to Yahoo! Finance.
While the figures did recover somewhat, to close on $12.93 for the week, shareholders have now been warned to expect a single digit decrease in quarterly sales, which has been blamed on a slump in sales in North America, the website reports.
Chief executive of Tempur-Pedic H Thomas Bryant commented: "We have reviewed our cost structure and are taking actions to reduce expenses while remaining committed to our business model and focus on premium products."
Tuesday 18th opened on $10.53, hitting a high of $11.50 and a low of $10.45 to close on exactly $11.
Wednesday's figures opened on $11, with a high of $11.70 and a low of the $11 opening, to close on $11.65
Thursday, March 20th opened on $11.56, with a high that took shares back above the $12 mark to $12.95, with a low that never fell below the opening price leading to a $12.93 close.
Tempur will announce its first quarter results in April.
Classic Bed Company is the UK's premier bed store for ultimate comfort and luxury offering Tempur, Vi Spring, Willis and Gambier and French Sleigh beds.
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