Sleep Number Announces First Quarter 2020 Results
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Sleep Number Corporation (SNBR) Tops Q1 EPS by 64c, Revenues Beat
April 22, 2020 4:03 PM EDTSleep Number Corporation (NASDAQ: SNBR) reported Q1 EPS of $1.36, $0.64 better than the analyst estimate of $0.72. Revenue for the quarter came in at $473 million versus the consensus estimate of $433.19 million.
First Quarter Overview
Net sales increased 11% to $473 million, including a 7% comparable sales gain and 5 percentage points of growth from new storesGross profit rate increased 240 basis points (bp) to 63.9% of net salesOperating income increased 61% to $53 million, or 11.2% of net sales, up 350 bp versus the prior years first quarter while investing in growth drivers, including 25% higher year-over-year R&D spendingEarnings per diluted... More