Select Comfort delivers record sales in Q2

Fiscal 2012 Outlook

The company is raising its outlook for 2012 GAAP earnings per diluted share, including the $5.6 million non-recurring charge in the first quarter of 2012, from between $1.32 and $1.40 to between $1.35 and $1.41, a 26 to 32 percent increase versus prior year. Excluding the charge, this represents non-GAAP guidance of between $1.41 and $1.47, a 32 to 37 percent increase versus prior year. This outlook continues to assume company-controlled comparable sales growth for the remainder of the year of at least 15 percent and a year-over-year increase in full-year operating margin of at least 100 basis points.

The company is increasing its estimate for year-end 2012 store count from the previous range of between 400 and 410 stores to a new range of between 408 to 412 stores, a 7 to 8 percent increase from the 381 stores at year-end 2011. Capital expenditures for 2012 are estimated to be approximately $50 million, reflecting new stores, repositioned stores and remodels, along with continued investment in information systems. The company also plans to continue share repurchases in the second half of 2012, with the objective of maintaining share count.

Select Comfort Corporation is leading the industry in delivering an unparalleled sleep experience by offering consumers high-quality, innovative and individualized sleep solutions and services, which include a complete line of SLEEP NUMBER beds and bedding.

Select Comfort Corporation