Investing.com - Financial Markets Worldwide
🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Mattress Maker Sleep Number Sinks On Drop in Sales

Published 07/16/2020, 11:19 AM
Updated 07/16/2020, 12:04 PM
© Reuters.
SNBR
-

By Christiana Sciaudone

Investing.com -- Mattress Maker Sleep Number (NASDAQ:SNBR) dropped 9% Thursday after reporting weak second quarter results.

Net sales dropped 20%, to $285 million, from a year earlier, and gross profit of 57% compared to 61% earlier.

The company did reduce operating expenses by 17%, or $35 million, versus the prior year, but the net loss per diluted share was 45 cents compared to net income per diluted share of 14 cents.

Shares have tripled since hitting a 2020 low in March, and traded around $49 at midday Thursday. Sleep Number has two buy ratings, three holds and two sell-equivalents, according to MarketWatch, with an average price target of $40.80.

Wedbush bumped its price target to $52 from $30, MarketWatch reported.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.