Welcome to our dedicated page for Sleep Number Corporation news (Ticker: SNBR), a resource for investors and traders seeking the latest updates and insights on Sleep Number Corporation stock.
Sleep Number Corporation (symbol: SNBR) is a leading wellness technology company dedicated to improving lives by individualizing sleep experiences. Headquartered in Minneapolis, Minnesota, the company designs, manufactures, markets, and distributes a comprehensive range of smart sleep solutions. Sleep Number is well-known for its Sleep Number® beds, which feature innovative SleepIQ® technology to track and monitor sleep patterns, allowing users to make adjustments for optimal sleep quality.
As a vertically integrated, direct-to-consumer retailer, Sleep Number reaches its customers through a variety of channels, including physical stores, online platforms, phone, and chat services. This approach ensures a seamless shopping experience and direct engagement with consumers.
Sleep Number's product lineup includes not only its iconic Sleep Number® beds but also a variety of complementary sleep products. These include FlexFit™ adjustable bases, Sleep Number® bedding, pillows, and furniture, all designed to enhance overall sleep quality.
Founded as a publicly traded company on NASDAQ under the ticker symbol SCSS since 1998, Sleep Number has consistently demonstrated financial growth and stability. In 2014, the company reported annual revenue exceeding $1.16 billion, showcasing its significant market presence and consumer trust.
Recent achievements highlight Sleep Number's commitment to innovation and customer satisfaction. The introduction of the SleepIQ Kids™ bed reflects their dedication to delivering tailored sleep solutions for every age group. These products not only improve sleep but also contribute to overall wellness.
Sleep Number's manufacturing and distribution facilities located in South Carolina further bolster their operational efficiency. By valuing the unique talents, perspectives, and experiences of their team members, Sleep Number fosters a culture that prioritizes customer well-being and employee satisfaction alike.
Keep up with the latest developments, performance updates, and news from Sleep Number Corporation to stay informed about how they continue to revolutionize the sleep industry.
Sleep Number (SNBR) announced that CEO Shelly Ibach will retire no later than the 2025 Annual Meeting. During her 12-year tenure as CEO, Ibach transformed the company from a mattress retailer with $743 million in annual sales to a sleep wellness technology company with $1.9 billion in 2023 revenues. The Board has engaged an executive search firm to identify her successor, and Ibach will serve as Chair through the 2025 Annual Meeting and as a strategic advisor through 2025. The company also announced plans for Board changes, including the retirement of two long-serving directors by 2026 and corporate governance enhancements such as Board declassification.
Sleep Number (SNBR) reported Q3 2024 results with net sales of $427 million, down 10% year-over-year. The company achieved a gross margin of 60.8%, up 340 basis points, and delivered adjusted EBITDA of $28 million, up 11% compared to prior year. Operating expenses decreased by $17 million for the quarter. Due to ongoing weakness in the bedding industry, Sleep Number updated its full-year 2024 adjusted EBITDA outlook to $115-125 million. The company also announced CEO Shelly Ibach's planned retirement no later than the 2025 Annual Meeting.
Sleep Number (Nasdaq: SNBR) has announced that it will release its fiscal third quarter results for the period ending September 28, 2024, after the market closes on Wednesday, October 30, 2024. The company will host a conference call to discuss the results at 5 p.m. EDT (4 p.m. CDT; 2 p.m. PDT) on the same day.
Investors and interested parties can access the webcast of the conference call through the investor relations section of Sleep Number's website at https://ir.sleepnumber.com. The webcast replay will be available for approximately 60 days following the call.
Sleep Number announces a 'Hot Flash Sale' from October 18-21 to commemorate World Menopause Day, highlighting the connection between temperature, menopause, and sleep quality. The sale features special offers on temperature-regulating products, including:
- 10% off the new ClimateCool smart bed
- 20% off the Climate360 smart bed
- BOGO Free True Temp pillows
- 25% off all True Temp bedding
- 20% off DualTemp layer
Recent Sleep Number research reveals that menopause negatively impacts sleep quality for many women, with nearly 90% of respondents experiencing hot flashes. The company aims to address these issues through innovations and research, focusing on women's unique sleep needs during different life stages.
Sleep Number (Nasdaq: SNBR) has launched the new ClimateCool™ smart bed, designed to actively cool and adjust for each sleeper. This innovation features:
- Cooling up to 15 degrees on each side
- Cooling 20 times faster than a leading competitor
- Scientifically backed cooling programs developed with Northwestern University
- Adjustable firmness for each side
The ClimateCool smart bed addresses temperature-related sleep issues, particularly beneficial for menopausal women. It includes superior cooling technology, SmartTemp™ Programs, and individualized comfort settings. The bed is available starting at $5,499 for a Queen size with integrated base.
MedtechWOMEN has named Deborah Kilpatrick, PhD, Executive Chair and former CEO of Evidation Health, as the recipient of the 2024 Ferolyn Powell Award. This prestigious honor recognizes leaders in medical technology who embody excellence, innovation, and mentorship. Kilpatrick, a co-founder of MedtechWOMEN, accepted the award at the annual MedtechVISION conference in Menlo Park, California.
Kilpatrick's career spans leadership roles at Guidant and Evidation Health. She currently advises medtech and digital health startups, and serves as a director at Sleep Number (NASDAQ: SNBR), NextGen Jane, and Sutter Health. The award highlights her commitment to advancing diversity and innovation in the medtech industry, aligning with the values championed by Ferolyn Powell.
Sleep Number (Nasdaq: SNBR) reported Q2 2024 results, generating adjusted EBITDA of $28 million. Despite an 11% decline in net sales to $408 million, the company achieved a gross margin rate of 59.1%, up 150 basis points year-over-year. Operating expenses were reduced by $19 million for the quarter. The company reiterated its full-year 2024 adjusted EBITDA outlook of $125 million to $145 million.
Key highlights include:
- Year-to-date free cash flow increased $21 million compared to last year
- Prioritizing debt reduction and lowering leverage
- Expecting mid-single digit net sales decline for the year
- Anticipating at least 100 basis points of gross margin rate improvement
- Projecting $50 million to $70 million of free cash flow for 2024
Sleep Number (Nasdaq: SNBR) has announced that it will release its second quarter 2024 results on Wednesday, July 31, 2024, after the market closes. The results will cover the period through June 29, 2024. Following the release, the company's management will host a conference call at 5 p.m. EDT to discuss the results.
Investors and interested parties can access the webcast of the conference call through the investor relations section of Sleep Number's website at https://ir.sleepnumber.com. The webcast replay will be available for approximately 60 days after the call, providing an opportunity for those who miss the live event to catch up on the discussion and results.
Sleep Number (Nasdaq: SNBR) has launched the c1 smart bed, priced at $999 for a Queen size, as part of their Classic Series. The c1 offers adjustable firmness, breathable technology, and personalized sleep insights. This model aims to deliver quality sleep benefits at an affordable price, complementing the existing c2 and c4 smart beds priced at $1,299 and $1,899 respectively. Sleep Number's smart beds are designed to address common sleep issues like temperature regulation and personalized comfort for couples. The c1 smart bed is now available online and in stores, coinciding with Sleep Number's annual sale event.
Sleep Number (SNBR) announced new studies to be presented at SLEEP 2024, utilizing data from their smart beds and the Smart Sleeper Panel comprising over 468,000 participants. These studies, in partnership with the University of Pittsburgh and the American Cancer Society, include research on snoring, obstructive sleep apnea (OSA), daytime sleepiness, and cardiovascular health. Findings suggest smart beds can accurately identify OSA risk, link sleep habits to daytime alertness, and monitor heart rate patterns for cardiovascular risks. This research could revolutionize at-home health screening and enhance clinical practices.
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