Select Comfort quarterly profit falls 42 percent
July 17 (Reuters) - Specialty mattress maker Select Comfort Corp reported a 42 percent drop in quarterly profit due to higher marketing costs, sending its shares down 8 percent after the bell.
The company, known for its Sleep Number line of adjustable-firmness mattresses, said in April it would revert to its earlier marketing strategy after a shift in advertising hurt sales as it reduced its exposure to already cautious customers.
Net income fell to $9.9 million, or 18 cents per share, in the second quarter from $17 million, or 30 cents per share, a year earlier.
Revenue rose 1 percent to $207.4 million.
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