Sleep Number Q1 Revenue at $319M, Slightly Below Expectations
Reports Q1 revenue $319M, consensus $320.72M. Linda Findley, President and CEO, commented, "Q1 came in as expected given the soft start to the year, but year-over-year demand improved steadily throughout the quarter, ending with growth in March over last year. We are confident in the early positive metrics we are seeing from our new product launch and marketing campaigns, and the customer feedback on our new beds is fantastic. We believe this, combined with the full realization of our cost savings actions, puts us in line with the financial indications we highlighted in the previous earnings call. "With the additional short-term liquidity provided by our existing lender group, we are fully focused on securing a long-term capital solution and are moving through the process of evaluating a range of strategic and financing options to maximize stakeholder value. I'm proud of the significant progress the team has made on the turnaround, and I believe we have positioned Sleep Number well for future growth."
