Leggett & Platt suffers as market demand weakens

4th February | supply | Component supplier Leggett & Platt has recorded a fourth quarter 14% fall in year on year sales for its products destined for use in residential furnishings. The firm is among the world’s leading suppliers to bedding and upholstery firms, but the $74m sales fall was not as bad as some of its other product categories.

Fourth quarter sales in its commercial fixtures and components division fell 27% following what the firm describes as its decision to ‘walk away from sales with unacceptable profit margins and market softness in demand for office furniture components.'