From Home Furnishing Business
Select Comfort Reports 2Q Earnings
Bedding retailer Select Comfort Corp. (NASDAQ: SCSS) reported net income of $8.5 million for the second quarter ended June 28, a 14 percent drop from net income of $9.9 million in the same quarter last year.
The company's net sales for the quarter increased 13 percent to $235 million, compared to $207 million in the second quarter of 2013.
“Our second quarter results reflect the important role of product innovation in our strategy," said Shelly Ibach, president and CEO of Select Comfort. "Customers responded positively to our introductions, including our breakthrough SleepIQ technology. We remain dedicated to our customers as we continue to transition the business through our growth initiatives. We know that when we focus on our customers, we deliver value for them and for our shareholders.”
Looking ahead, the company plans to add 20 to 30 stores during the balance of 2014, ending the year with between 460 and 470 stores.
The complete earnings release can be found online.