Select Comfort craters following sales warning


Select Comfort (SCSS -18.1%) says Q4 sales came in at $231M on flat comparable store sales growth. Analysts forecast $242M in sales for the period.

The company warns that EPS will fall below estimates due to weak demand the retailer saw following Cyber Monday. Perhaps even more alarming, the "challenging" environment is expected to persevere in 2014, according to CEO Shelly Ibach.

Comments (1)
  • Erik Conley
    , contributor
    Comments (75) | Send Message
     
    I would not recommend buying this one until the second wave of selling is finished. There are almost always a few large holders who need to make sell decisions by committee, so there is a delay of up to one full day before they start dumping into an already weak market for the shares. Patience will be rewarded, and you might be able to pick up the stock for closer to $16 if you wait.
    6 Jan 2014, 01:47 PM Reply Like
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