Global mattress manufacturing and retail group Somnigroup International has reported a growth in sales during the first quarter.

According to its latest trading update for Q1 ended 31 March 2025, total sales increased 34.9% to $1,604.7 million as compared to $1,189.4 million in the first quarter of 2024.

This was primarily driven by the inclusion of $593.7 million of Mattress Firm sales since its completed acquisition from 5 February 2025, offset by the accounting elimination of $130.1 million of sales from the Tempur Sealy North America segment to the Mattress Firm segment during the period.

Gross margin was 36.2% as compared to 39.9% in the first quarter of 2024, while net losses amounted to $33.1 million, compared to its profit of $76.3 million.

Tempur Sealy North America net sales were impacted by the accounting elimination of $130.1 million of sales to Mattress Firm for the period. Net sales decreased $194.9 million to $706.2 million as compared to $901.1 million in the first quarter of 2024.

Tempur Sealy International net sales increased 5.7% to $304.8 million as compared to $288.3 million in the first quarter of 2024, primarily driven by the success of new product launches.

Company Chairman and CEO Scott Thompson commented: “Our results this quarter both reflect the transformational acquisition of Mattress Firm and highlight our ability to navigate a weak global market. All of our business units, domestically and internationally, successfully made progress on their growth opportunities as we leverage the core strengths of our business, including scale, operational flexibility and manufacturing capabilities.

“I continue to be impressed by our people, all around the world, as they focus on execution and taking care of our customers to deliver share gains and efficient cost management across the Somnigroup enterprise. Everyone in the organization has stepped up to quickly advance our near and longer term initiatives to continue delivering value to shareholders.”