1807 ET - A lack of housing turnover is wreaking havoc on the mattress industry, Sleep Number CEO Shelly Ibach says on a call with analysts. Low consumer confidence and high interest rates resulted in U.S. existing-home sales falling to their lowest level in nearly 30 years in 2024. As a result, mattress volumes for 2024 were estimated at 24 million units, their lowest level in nearly a decade, she says. "The mattress industry faced an extremely challenging demand environment throughout 2024, a trend that has persisted into the first quarter of 2025. Shares fall 9.2% in after-hours trading. (connor.hart@wsj.com)
(END) Dow Jones Newswires
March 05, 2025 18:07 ET (23:07 GMT)
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