Select Comfort Corporation Reports Sales Results for the Fourth Quarter of 2013; Revised Earnings Guidance for the Fourth Quarter of 2013
The mid-point of the company's fourth-quarter EPS guidance range of $0.18 to $0.26 assumed low-double-digit growth in total net sales and mid-single-digit growth in company-controlled comparable sales. Through November, company performance was trending consistent with the EPS guidance range, with solid sales results and expense controls. From Cyber Monday through the end of December, however, sales trends fell below internal goals. As a result, the company now expects fourth-quarter EPS to be below the low end of its guidance range.