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Select Comfort Gets $20 Million Credit Line
March 28,
2010 by in UnCategorized 
By Home Furnishings Business in Bedding on March 29, 2010
Specialty bedding retailer Select Comfort Corp. (NASDAQ: SCSS) has entered into a new credit agreement with Wells Fargo Bank that provides up to $20 million.
The credit agreement, which has a term through June 2012, replaces an existing credit facility with a syndicate of banks.
"Our sustained improvement in sales and profit performancealong with increased cash generation, a stronger balance sheet and our positive cash positionhave provided us the opportunity to replace our existing facility," said Jim Raabe, chief financial officer. "The new facility significantly lowers the company's borrowing costs and fees and provides more financial flexibility as compared to the existing agreement."
The company plans to release first quarter results April 21.