Sleep Number reports Q1 EPS (38c), consensus (5c)

Reports Q1 revenue $393M, consensus $398.0M. Linda Findley, President and CEO, commented, “We are laser focused on delivering strong returns for shareholders and are taking a different approach to the Sleep Number (SNBR) business. I see a way to run our business on a lower cost basis without compromising our topline. We are fundamentally changing how we operate. We implemented an organizational redesign, including changes to our leadership team, to simplify decision making and bring us closer to the customer. With that change, we reduced corporate management roles by 21%. In addition, we are reshaping key functions within the company, including marketing and research and development, to further drive efficiency. Since I joined three weeks ago, our efforts have reduced second quarter operating expenses by approximately 10% of our current cost structure, as of the first quarter of 2025.”