=Sleep Number (SNBR) reported earnings on Wed 18 Apr 2018 (a/h)

Sleep Number misses by $0.04, misses on revs; reaffirms FY18 EPS guidance 

• Reports Q1 (Mar) earnings of $0.52 per share, $0.04 worse thanthe Capital IQ Consensus of $0.56; revenues fell 1.2% year/year to $389 mln vs the $396.68 mln Capital IQ Consensus.
• Co reaffirms guidance for FY18, sees EPS of $1.70-2.00 vs. $1.88 Capital IQ Consensus Estimate.
  • The outlook assumes mid- to high-single digit sales growth for 2018.
• Gross profit rate of 61.1% versus 62.6% for the same period last year, primarily due to inefficiencies of operating two supply chains as we transition to 360 smart beds