Select Comfort warns of 4Q earnings miss
January 21, 2014,
The company, which makes the Sleep Number bed, said earnings will be below an October estimate of 18 cents to 26 cents per share, and noted that same store sales from company-owned stores will be flat.
Through November, the company said its performance was consistent with the earnings guidance, but sales fell below internal goals from Cyber Monday through the end of December.
"The sales slowdown following the Thanksgiving holiday reflected a tepid retail holiday shopping season," said Shelly Ibach, president and CEO. "We expect this challenging environment to continue in 2014 and are planning accordingly."
The company said net sales in the fourth quarter were up about 5% to $231 million. The midpoint of the earnings guidance assumed low double-digit sales growth and same-store sales growth in the mid-single-digits.
Select Comfort will release complete fourth-quarter financial results on Feb. 5.
Most Viewed Articles
Related Content By Author
Mid-August news features acquisitions, Amazon and avenues of growth
Furniture Retail Solutions
Over the past year, our editorial team has been on the road, studying retail – what's working and what challenges even the most established retailers face. Born from these studies is Furniture Retail Solutions – a multi-part series addressing common problems retailers face. Read our first two articles:
RSA Insights & Intelligence
RSA Insights & Intelligence gives you, the retail sales associates, critical intelligence and insights. We make it easier for you to sell by providing actionable tips and key takeaways you can and should use for every sale. Check out our latest two articles:
* Why buying mattresses online is harder than consumers think
* How RSA can capitalize on the adjustable base boom