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Select Comfort achieves solid sales growth in H1
21 Apr '11
4 min read
Fiscal 2011 Outlook
Based on continued solid performance, the company is increasing its fiscal 2011 outlook and now anticipates net income per share in 2011 of between $0.85 and $0.93 per diluted share. The revised outlook assumes stability in consumer-spending patterns, company-owned comparable sales growth in the mid-teens, and net-income growth of approximately 30 to 45 percent for the duration of the year.
The company noted that increasing inflationary pressures could adversely impact consumer demand through the balance of the year. The company's long-term expectation for net-income-per-share growth remains between 15 and 20 percent per year.
The company expects to end 2011 with approximately 380 stores after planned store openings and closings. The company anticipates that total 2011 capital expenditures will be approximately $25 million to $30 million, reflecting a total of 40 to 50 store actions (remodels and relocations), along with continued investments in marketing and information systems.
Founded more than 20 years ago and based in Minneapolis, Select Comfort Corporation designs, manufactures, markets and supports a line of adjustable-firmness mattresses featuring air-chamber technology, branded the Sleep Number bed, as well as foundations and bedding accessories. SELECT COMFORT products are sold through its 375 company-owned stores located across the United States; select bedding retailers; direct-marketing operations; and online.
Based on continued solid performance, the company is increasing its fiscal 2011 outlook and now anticipates net income per share in 2011 of between $0.85 and $0.93 per diluted share. The revised outlook assumes stability in consumer-spending patterns, company-owned comparable sales growth in the mid-teens, and net-income growth of approximately 30 to 45 percent for the duration of the year.
The company noted that increasing inflationary pressures could adversely impact consumer demand through the balance of the year. The company's long-term expectation for net-income-per-share growth remains between 15 and 20 percent per year.
The company expects to end 2011 with approximately 380 stores after planned store openings and closings. The company anticipates that total 2011 capital expenditures will be approximately $25 million to $30 million, reflecting a total of 40 to 50 store actions (remodels and relocations), along with continued investments in marketing and information systems.
Founded more than 20 years ago and based in Minneapolis, Select Comfort Corporation designs, manufactures, markets and supports a line of adjustable-firmness mattresses featuring air-chamber technology, branded the Sleep Number bed, as well as foundations and bedding accessories. SELECT COMFORT products are sold through its 375 company-owned stores located across the United States; select bedding retailers; direct-marketing operations; and online.
Select Comfort Corporation
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