MINNEAPOLIS--(BUSINESS WIRE)--Jan. 6, 2014--
Select Comfort Corporation (NASDAQ: SCSS) today reported that
preliminary fourth-quarter 2013 total net sales grew 5% year-over-year
to $231 million, with flat company-controlled comparable sales growth.
The mid-point of the company’s fourth-quarter EPS guidance range of
$0.18 to $0.26 assumed low-double-digit growth in total net sales and
mid-single-digit growth in company-controlled comparable sales. Through
November, company performance was trending consistent with the EPS
guidance range, with solid sales results and expense controls. From
Cyber Monday through the end of December, however, sales trends fell
below internal goals. As a result, the company now expects
fourth-quarter EPS to be below the low end of its guidance range.
“The sales slowdown following the Thanksgiving holiday reflected a tepid
retail holiday shopping season. We expect this challenging environment
to continue in 2014 and are planning accordingly,” said Shelly Ibach,
president and CEO, Select Comfort.
Tomorrow the company will unveil its 2014 product innovations at the
International Consumer Electronics Show (CES) in Las Vegas. The company
plans to release its fourth-quarter 2013 financial results on February
5, 2014.
About Select Comfort Corporation
Select Comfort Corporation is leading the industry in delivering an
unparalleled sleep experience by offering consumers high-quality,
innovative and individualized sleep solutions and services, which
include a complete line of SLEEP NUMBER® beds and bedding.
The company is the exclusive manufacturer, marketer, retailer and
servicer of the revolutionary Sleep Number bed, which allows individuals
to adjust the firmness and support of each side at the touch of a
button. The company offers further individualization through its
solutions-focused line of Sleep Number pillows, sheets and other bedding
products. And as the only national specialty-mattress retailer,
consumers can take advantage of an enhanced mattress-buying experience
at one of the 423 Sleep Number stores across the country, online at SleepNumber.com,
or via phone at (800) Sleep Number or (800) 753-3768.
Forward-looking Statements
Statements used in this news release relating to future plans, events,
financial results or performance are forward-looking statements subject
to certain risks and uncertainties including, among others, such factors
as general and industry economic trends; consumer confidence; the
effectiveness of the company’s marketing messages; the efficiency of its
advertising and promotional efforts; consumer acceptance of its
products, product quality, innovation and brand image; availability of
attractive and cost-effective consumer credit options; execution of the
company’s retail store distribution strategy; the company’s dependence
on significant suppliers, and its ability to maintain relationships with
key suppliers, including several sole-source suppliers; the
vulnerability of key suppliers to recessionary pressures, labor
negotiations, liquidity concerns or other factors; rising commodity
costs and other inflationary pressures; industry competition; the
company’s ability to continue to improve its product line; warranty
expenses; risks of pending and potentially unforeseen litigation;
increasing government regulations, which have added or will add cost
pressures and process changes to ensure compliance; the adequacy of the
company’s management information systems to meet the evolving needs of
its business and evolving regulatory standards applicable to data
privacy and security; the company’s ability to attract and retain senior
leadership and other key employees, including qualified sales
professionals; and uncertainties arising from global events, such as
terrorist attacks or a pandemic outbreak, or the threat of such events.
Additional information concerning these and other risks and
uncertainties is contained in the company’s filings with the Securities
and Exchange Commission (SEC), including the Annual Report on Form 10-K,
and other periodic reports filed with the SEC. The company has no
obligation to publicly update or revise any of the forward-looking
statements in this news release.
Source: Select Comfort Corporation
Select Comfort Corporation
Media:
Becky Dvorak,
763-551-6862
publicrelations@selectcomfort.com
or
Investors:
Dave
Schwantes, 763-551-7498
investorrelations@selectcomfort.com