Sleep Number Stock Price, News & Analysis

Sleep Number Corporation (Nasdaq: SNBR) reported a 1% increase in fourth quarter net sales to $498 million, while full year net sales dropped 3% to $2.11 billion. The company faced a net loss of $0.24 per diluted share for the fourth quarter, compared to a profit of $0.47 the previous year. Despite challenges such as a 13% decline in demand and rising input costs, Sleep Number generated $36 million in operating cash flow and reported an Adjusted ROIC of 17.6%. For 2023, the company forecasts diluted EPS between $1.25 and $2.00, with expectations of flat to mid-single-digit declines in net sales.

Sleep Number Corporation (NASDAQ: SNBR) received the 2022 Corporate Partner of the Year Award from the American Cancer Society (ACS) for its commitment to combating cancer. The partnership, initiated on World Cancer Day 2022, focuses on joint research to develop sleep guidelines for cancer patients. Sleep Number contributes smart beds to ACS’s Hope Lodges and promotes cancer screenings through initiatives at Super Bowl LVII in Arizona. For each completed cancer risk assessment from February 6-20, Sleep Number will donate $100 to ACS, up to $50,000. This collaboration aims to enhance cancer survivors' quality of life through improved sleep.

Sleep Number Corporation announced the departure of Executive Vice President and CFO David Callen, effective January 30, 2023. Callen will assist in a financial advisory role until March 3. He has overseen the company's financial transition since April 2014. Chris Krusmark, currently the Chief Human Resources Officer, will serve as interim CFO. The company also provided preliminary FY2022 results, estimating net sales of $2,037 million and earnings per diluted share of $1.60, pending final auditing.

Financial results will be discussed in a conference call on February 22, 2023.

Sleep Number Corporation (Nasdaq: SNBR) reported a third-quarter net sales decline of 16% year-over-year, totaling $541 million, due to semiconductor chip supply constraints and softer consumer demand. The diluted EPS was $0.22, exceeding expectations for breakeven profits. The company revised its 2022 EPS outlook to $1.50 to $2.00 per diluted share, anticipating flat net sales for Q4. Despite ongoing challenges, Sleep Number launched the innovative Climate360™ smart bed, aimed at addressing consumer sleep issues and driving future growth.

Sleep Number Corporation (NASDAQ: SNBR) will announce its fiscal third quarter results on October 26, 2022, after market close. A conference call is scheduled for 5 p.m. EDT where management will discuss the results. The call can be accessed via the investor relations section of Sleep Number’s website. The company leverages advanced sleep technology through its 360^® smart bed platform, focusing on enhancing sleep health and wellness. Sleep Number has improved the lives of over 14 million people and has a workforce of more than 5,500 mission-driven team members.

Sleep Number Corporation (NASDAQ: SNBR) has launched the Climate360 smart bed, the first sleep solution that actively regulates temperature throughout the night for improved sleep quality. Designed to address the common issue of temperature discomfort during sleep, the bed allows for personalized microclimates for each sleeper. Research indicates that such temperature control can enhance sleep quality. A survey revealed that nearly 90% of users reported improved sleep since using the Climate360. Priced at $9,999, the smart bed also features advanced sleep tracking and adjustability options.

Sleep Number Corporation (NASDAQ: SNBR) has renewed its partnership with the Los Angeles Rams for three more years, continuing as the "Official Sleep + Wellness Partner" through the 2024 season. This collaboration, which began in 2021, enhances player performance through quality sleep, with nearly 80% of Rams players benefiting from the 360® smart bed's features. The partnership promotes a holistic training approach focusing on sleep's impact on physical and mental health, further solidifying Sleep Number's role in advancing sleep science for athletes.

Sleep Number Corporation (NASDAQ: SNBR) has renewed its partnership with the Dallas Cowboys as the "Official Sleep + Wellness Partner" for the next five years, extending through the 2026-2027 NFL season. This collaboration began in 2017 and focuses on optimizing player performance through Sleep Number's 360® smart beds, enabling approximately 85% of the team to access personalized sleep data. Additionally, the partnership will involve community initiatives, including support for cancer patients. A new advertising campaign featuring Dak Prescott will launch during the NFL season.