Global mattress manufacturing and retail group Somnigroup International has reported a decline in sales during the second quarter.
According to its latest trading update for Q2 ended 30 June 2026, total sales decreased 3% to $1,823.5 million as compared to $1,880.8 million in the second quarter of 2025.
Gross margin was 44.8% as compared to 44.0%, while net income increased 12.0% to $110.9 million as compared to $99.0 million in the second quarter of 2025.
Tempur Sealy North America net sales to Mattress Firm increased 11.6% to $294.0 million, while Tempur Sealy International net sales increased 2.0% to $299.5 million. Mattress Firm net sales decreased 2.8% to $922.2 million.
In an update on its proposed acquisition of Leggett & Platt, the group said: “On April 13, 2026, the Company announced it has signed a definitive agreement to acquire Leggett & Platt, Incorporated, a diversified component manufacturer, in an all-stock transaction valued at approximately $2.5 billion based on the closing price of Somnigroup International’s common stock as of April 10, 2026 and inclusive of Leggett & Platt’s existing indebtedness.
“The Company expects the transaction to close by the end of the third quarter of 2026, subject to the satisfaction of customary closing conditions, including approval by Leggett & Platt’s shareholders and receipt of applicable regulatory approvals.”
Company Chairman and CEO Scott Thompson commented: “Our second-quarter performance demonstrates our global team’s ability to execute in a dynamic environment.
“We delivered solid results while continuing to fully invest in our iconic brands, advancing our international growth strategy, preparing for the North American launch of our new Stearns & Foster collection and strengthening our multiple distribution platforms.
“The progress we are making across the business reinforces our confidence in our long-term strategy and our ability to create sustainable value.”
In other news, Leggett & Platt has also shared its latest trading update, with Q2 sales down by 6% to $1.0 billion. Organic sales were down 1%, while volume was down 4%, primarily from continued weak demand across most of its end markets, retailer merchandising changes in Adjustable Bed, and the decision during the fourth quarter of 2025 to walk away from a financially challenged customer in U.S. Spring.
Second quarter EBIT was $80 million, down from $90 million in second quarter 2025.
Within its segments, bedding product sales fell 1% with volume down 7%. This was primarily due to retailer merchandising changes and lower volume with a certain customer in Adjustable Bed, demand softness in U.S. and European bedding markets.
As for Furniture, Flooring & Textile Products, sales rose 1% with volume flat. It did report growth in Textiles, which was offset by declines in Home Furniture, Work Furniture and Flooring.
President and CEO Karl Glassman commented, “We are pleased with how our teams managed through a challenging environment in the second quarter. Our employees remained focused on disciplined execution and cost management which, along with favorable items that we do not expect to repeat in future quarters, contributed to improved adjusted earnings.
“Bedding industry conditions remain challenged both by sluggish consumer activity and continued consolidations and bankruptcies across the value chain. We estimate that U.S. mattress market units declined by low double digits in the second quarter, similar to the declines we saw in the first quarter. In our Bedding Products segment, continued strong performance of our trade rod and wire business partially offset the decline from lower mattress demand.
“Across our other segments, demand remained soft in markets tied to housing and broader consumer spending as consumers were faced with additional uncertainty resulting from the war in the Middle East and higher gas prices. In Specialized Products, Automotive performed slightly below the market, which saw lower consumer demand across all regions. In Furniture, Flooring & Textile Products, growth in Textiles offset lower demand in the remaining businesses, which are more directly exposed to U.S. residential spending, leading to a slight improvement in trade sales.
“As we look forward, we remain focused on executing our strategic priorities while expecting ongoing macroeconomic headwinds to temper consumer demand across most of our businesses for the remainder of the year.
“Finally, we continue to progress towards the planned merger with Somnigroup. As previously announced, the waiting period under the HSR Antitrust Improvements Act expired in June. We anticipate the transaction to close upon satisfaction of the remaining closing conditions, including Leggett & Platt shareholder approval at the special meeting planned for August 20th and the remaining required regulatory approvals.
“As previously stated, we believe this combination with a valued long–standing customer will create a leading global company – providing compelling strategic and financial value for our customers, employees, and the Leggett & Platt shareholders.”
