Select Comfort sales falling short
Furniture Today Staff -- Furniture Today, March 11, 2013
MINNEAPOLIS - Select Comfort's stock took a hit last week after the airbed manufacturer and retailer said it "has experienced below-plan sales since Feb. 1" and is likely to miss its internal sales goals for the first quarter.
"We believe this is a short term issue associated with accelerated changes made to our media-buying strategy, and we are making the necessary corrections to both media buying and near-term expenses," said Shelly Ibach, president and CEO.
The company said it plans to discuss its outlook for the rest of the year after it releases first-quarter financial results on April 17.
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