Sleep Number Stock Tanks on Surprise Loss and Weak Industry Demand

Sleep Number’s latest financial results were a nightmare, causing shares of the mattress maker to sink Wednesday.

“We estimate that industry demand was down double digits in the quarter,” Ibach said, adding that overall industry mattress sales are down nearly 20% from prepandemic levels. On a 12-month trailing basis, mattress unit sales are under 25 million units, the lowest level since 2015, the CEO noted. Such lackluster demand was evident in the company’s third-quarter results. After Tuesday’s market close, Sleep Number reported a surprise loss of 10 cents a share, when analysts surveyed by FactSet were expecting earnings of 6 cents a share for the period. In the same quarter last year, Sleep Number earned 22 cents a share.Ibach said on the call that customers’ purchasing power has reached its lowest level on record.

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

Sleep Number’s stock falls 30% as company saw demand change ‘abruptly’Sleep Number also lowers its guidance for the year, calls for layoffs and store closures
ソース: MarketWatch - 🏆 3. / 97 続きを読む »

Sleep Number’s stock falls 25% as company saw demand change ‘abruptly’Sleep Number also lowers its guidance for the year, calls for layoffs and store closures
ソース: MarketWatch - 🏆 3. / 97 続きを読む »

Fisker Stock Tanks After the EV Start-Up Delays Earnings ReportInstead of reporting third-quarter results Wednesday, the company pushed the announcement to Monday, Nov. 13. Investors didn't like that decision.
ソース: MarketWatch - 🏆 3. / 97 続きを読む »

Rivian, Robinhood, Upstart, Toast, Array, Kyndryl, Sleep Number, and More Market MoversRivian raises production guidance, Robinhood's third-quarter revenue misses analysts' expectations, and Upstart posts a wider-than-expected quarterly loss.
ソース: MarketWatch - 🏆 3. / 97 続きを読む »