Same-store sales up 32% at Select Comfort
By Furniture Today Staff -- Furniture Today, October 6, 2003
Minneapolis — Airbed producer and retailer Select Comfort said its third-quarter sales were up 38% to $117.4 million, compared with sales of $85.1 million in the third quarter of 2002.
Same-store sales for the quarter ended Sept. 27 were up 32%, on top of the 32% increase achieved in the comparable 2002 quarter.
Select Comfort said third-quarter sales were above the range announced early in September and, as a result, the company is raising earnings guidance for the quarter to 17 cents to 18 cents per share.
"We're extremely proud to report our fifth consecutive quarter of same-store sales increases of 30% or more," said Bill McLaughlin, Select Comfort's president and chief executive officer.
"We have generated consistently strong growth in sales and earnings while investing in future growth," he said.
Select Comfort plans to report its full third quarter results on Oct. 14.
