Select Comfort Corporation raises 43% per share in Q2
27 Jul '05
5 min read
Nation's leading bed retailer Select Comfort Corporation and creator of the Sleep Number bed, announced results for the second quarter ended July 2, 2005. The company reported net income of $7.9 million, or $0.20 per diluted share, compared to net income of $5.7 million, or $0.14 per diluted share, in the second quarter of 2004. Second quarter 2005 net sales increased 24 percent to $154.5 million, compared to second quarter 2004 net sales of $124.7 million. Same-store sales increased 11 percent.
"They are pleased with their second quarter performance, which not only demonstrates ability to consistently deliver sales growth in excess of 20 percent, but also confirms the operating leverage inherent in their business model," said Bill McLaughlin, chairman and chief executive officer. "The market share of company continues to grow, and at less than six percent nationally, reflects the tremendous opportunity that remains as they grow the awareness and distribution of their unique adjustable firmness mattress."
McLaughlin continued, "Their sales growth is attributable to strong unit growth across all channels and product lines. On top of double-digit, same-store sales growth, company continues to advance their efforts in expanding distribution and are on track to open 39 company-owned stores this year.
They also are developing relationships with major mattress retailers and will test 140 new doors in the third quarter with new retail partners as theywork to improve consumer access to their products and leverage their growing brand awareness. Additionally, their bed placements within Radisson Hotels and Resorts are not only providing consumers with a great night's sleep while away from home, but also are generating additional opportunities for consumers to experience a Sleep Number bed."
marketing@alchempro.com
