Sleep Number stock down nearly 10% as shortages crimp Q2 sales

3 months ago 29
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Shares of Sleep Number Corp. SNBR, +5.42% fell much than 9% successful the extended league Tuesday aft the institution reported second-quarter nett and income beneath Wall Street expectations. Sleep Number said it earned $22.3 million, oregon 88 cents a share, successful the 4th ended July 3, versus a nonaccomplishment of $13 million, oregon 45 cents a share, successful the year-ago period. Sales roseate to $484 cardinal from $285 cardinal a twelvemonth ago. Analysts polled by FactSet had expected the mattress shaper to study per-share net of $1.10 connected income of $511 million. Sleep Number said it saw "robust" request for immoderate of its pricier items but that "near-term proviso constraints" curbed income successful June and July. "We person made important advancement successful addressing impermanent constituent shortages and expect beardown transportation volumes the equilibrium of the year," the institution said successful a statement. The institution raised its 2021 EPS outlook to astatine slightest $7.25, which is astatine slightest 58% higher than its 2020 full-year results excluding immoderate items and astir 3 times its 2019 EPS, it said. Shares of Sleep Number ended the regular trading time up 5.4%.

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