Daily News
From Home Furnishing Business
Select Comfort 4Q Sales Soar
February 12,
2015 by in Financial Reports, Industry 
Specialty sleep retailer Select Comfort Corp. (NASDAQ: SCSS) reported net income of $18.9 million for the fourth quarter ended Jan. 3 soaring over net profit of $6.4 million in the same quarter last year.
Net sales for the quarter were $322 million, a 40 percent increase over net sales of $231 million in the same period last year.
Net income for fiscal 2014 was nearly $68 million, compared to $60.1 million reported in fiscal 2013. Net sales for the 12-month period hit $1.2 billion, a 20 percent increase compared to net sales of $960.2 million in fiscal 2013.
“Our fourth-quarter and full-year 2014 results reflect a strong consumer response to the combination of proprietary sleep innovations, effective marketing and exclusive distribution,” said Shelly Ibach, president and CEO. “Our consumer-driven innovation strategy, advantaged business model and capital discipline position the company to deliver sustainable profitable growth and more than double earnings per share to $2.75 by fiscal 2019.”