Select Comfort Issues 1Q Guidance

March 3, 2013  by in UnCategorized   

By Home Furnishings Business in Bedding on March 4, 2013

Specialty bedding retailer Select Comfort Corp. (NASDAQ: SCSS) said today that it has had below-plan sales since Feb. 1 and will likely miss its internal goals for the first quarter.

"We believe this is a short-term issue associated with accelerated changes made to our media-buying strategy, and we are making the necessary corrections to both media buying and near-term expenses," said Shelly Ibach, president and CEO. "We remain confident in our growth formula and are committed to our strategy of delivering an unparalleled sleep experience for our customers."

The company plans to discuss its outlook for the balance of the year following the release of first-quarter financial results scheduled for April 17. The company does not provide quarterly financial guidance and does not plan to provide additional commentary regarding first-quarter sales or earnings performance prior the earnings release date.