Sealy Corp. narrowed its fiscal fourth-quarter loss as mattresses sales improved from last year and beat market expectations.
The company, based in Trinity, N.C., is one of the largest bedding brands in the world, with mattress lines such as Sealy Posturepedic and Stearns & Foster. It has been dealing with intense competition in the industry as mattress makers increased their marketing and promotions to help lure cost-conscious consumers into making big purchases....
Employees of a North Portland mattress factory on Wednesday made an impassioned plea to the citizen's board that oversees Oregon's pension investments to help save their jobs.
Employees and union leaders from Sealy's mattress plant in Portland, slated for closure in March, were making a last-ditch effort by asking the board to intercede with the leveraged buyout giant Kohlberg Kravis Roberts, Sealy's largest shareholder.