Select Comfort Sales Dip

July 25, 2007  by in UnCategorized   

By Home Furnishings Business in Bedding on July 2007 Minneapolis-based Select Comfort, the nation’s leading bed retailer with 460 stores, announced Wednesday that net sales in its second quarter declined 5 percent to $179 million. Net income totaled $2.9 million, down from $10.7 million a year earlier.

Chairman and CEO Bill McLaughlin said the results matched what the company had predicted in mid-June. He said sales trends began improving in the second quarter, and that has carried over into the company’s third quarter. The company has opened 48 new stores over the past 12 months, but those sales gains were offset by a 14 percent decline in same-store sales.

The company reiterated its full-year 2007 outlook, saying net sales would be between $840 million and $860 million.