Why Sleep Number Shares Are Slipping Today
Portfolio Pulse from Lekha Gupta
Sleep Number Corp (NASDAQ:SNBR) shares dropped by around 29% after reporting mixed Q2 FY23 results. The company reported Q2 net sales of $459 million, missing the consensus of $471.4 million, and a 16% YoY decline in net sales. However, EPS of $0.03 was better than the consensus of $(0.01). The company revised its EPS outlook to $1.25-$1.75 from $1.25-$2.00. SNBR also announced the appointment of Francis Lee as EVP and CFO, effective August 14, 2023.
July 28, 2023 | 10:53 am
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Sleep Number Corp reported mixed Q2 FY23 results, leading to a 29% drop in share price. The company missed net sales consensus and reported a 16% YoY decline. However, EPS beat consensus. The company also revised its EPS outlook and announced a new CFO.
Sleep Number Corp's mixed Q2 FY23 results, including a miss on net sales consensus and a 16% YoY decline in net sales, have negatively impacted the company's share price. However, the company beat the EPS consensus and revised its EPS outlook, which could potentially mitigate some of the negative impact. The appointment of a new CFO could also influence the company's future financial strategy and performance.
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