Leggett & Platt's CEO David Haffner said sales for its Residential Furnishings unit jumped 18% in the First Quarter of 2015 vs. the same quarter in 2014. Total First Quarter sales for the diversified manufacturer were up 10%.
Haffner cited a shift in bedding to the company's Comfort Core springs as key to the improved total revenue.
U.S. spring component dollar sales increased 14%. Innerspring unit volume grew 15%, with Comfort Core sales on fire, up 66% during the quarter. Box spring unit volume increased 8%. Furniture component sales increased 4% in the first quarter, sales in the seating and sofa sleeper businesses grew 2% while motion hardware unit volume increased 14%.
During the quarter the manufacturer moved its adjustable bed and fashion bed businesses from residential furnishings to commercial products. The company also raised the low end of its profit outlook for the rest of this year.
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