Sleep Number reports Q2 EPS 3c, consensus (1c)

Reports Q2 revenue $459M, consensus $471.4M. “As we continue to navigate a challenging macro environment, our business is well positioned for growth. Demand has steadily improved year-to-date, and we expect this trend to continue in the back-half of the year as we benefit from the launch of our entire next generation smart bed portfolio, the Climate360 smart bed, and the advancement of our ‘Sleep Next Level’ advertising campaign with the start of the NFL season,” said Shelly Ibach, Chair, President and CEO, Sleep Number. “We have taken actions across the business to drive efficiencies and remain on track to expand margins and generate more than $100 million in cash from operations in 2023.”