Home / Knowledge / News / Textiles / Select Comfort to introduce new products at new price points
Select Comfort to introduce new products at new price points
Apr '08
Select Comfort Corporation, the nation's leading bed retailer and creator of the SLEEP NUMBER bed, announced results for the fiscal first quarter ended March 29, 2008. Net sales for the quarter totaled $168.2 million, a decrease of 22 percent, compared to $216.5 million in the first quarter of 2007.

The company reported a first quarter net loss of $7.1 million, or $0.16 per diluted share, compared to net income of $10.7 million, or $0.21 per diluted share in the first quarter of 2007.

"Our first quarter results were affected by a combination of external and internal factors. Performance was significantly impacted by a reduction in consumer discretionary spending due to a weakening U.S. economy. At the same time, we reduced media spend in anticipation of the launch of our new marketing campaign," said Bill McLaughlin, chief executive officer.

"To mitigate the impact of lower volume, we are taking decisive action to reduce costs and preserve cash, while at the same time selectively investing in initiatives to stabilize our business and better leverage our model going forward."

Cost Reduction and Strategic Investment Initiatives:
Since late in the fourth quarter of 2007, Select Comfort has accelerated initiatives to improve bottom-line performance including significantly reducing general and administrative costs, sales and manufacturing costs, and raising prices on select models.

The cumulative benefit to our cost structure from these initiatives is expected to exceed $30 million over the balance of the year and $45-plus million on an annualized basis. Specifically, the company:

Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Jurgen Gauger

‘Buying crowdsourced or creative designs are much more appealing to the...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search