Sleep Number shares sink as Q1 sales, margin disappoint

Apr. 17, 2019 5:34 PM ETSleep Number Corporation (SNBR), TPX, LEG, CULPTPX, CULP, SNBR, LEGBy: Carl Surran, SA News Editor
  • Sleep Number (NASDAQ:SNBR) -12% after-hours as Q1 earnings top estimates but comparable sales and gross margin miss expectations.
  • SNBR reiterates full-year guidance for earnings and revenues even after Q1 profit beat estimates, seeing EPS of $2.25-$2.75 vs. $2.47 analyst consensus and revenue growth of 6%-10%, which computes to $1.62B-$1.68B vs. $1.64B consensus.
  • Comp sales rose 5% for the quarter vs. 6.2% consensus estimate and gross margin of 61.5% fell just shy of 61.9% consensus.
  • Other mattress firms on watch include TPX, LEG, CULP

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