(Corrects paragraph 7 to clarify that Wedbush analysts' comment
is from a pre-earnings note)
July 16 Specialty mattress maker Select Comfort
Corp's quarterly net sales and profit beat analysts'
expectations as company-controlled same-store sales rose 7
Select Comfort shares rose 16 percent in extended trading.
Shares of rival Tempur Sealy International Inc also rose
This was the second straight quarter when Select Comfort
beat estimates after missing them five times in a row.
Net income fell to $8.5 million, or 16 cents per share, in
the quarter ended June 28 from $9.9 million, or 18 cents per
share, a year earlier.
Net sales rose 13 percent to $234.7 million.
Analysts on average had expected earnings of 14 cents per
share on revenue of $223.7 million, according to Thomson Reuters
Wedbush analysts had said in a pre-earnings note that a
material turnaround in Select Comfort's business was likely only
later in the year, given weak consumer spending and discounting.
The company's same-store sales fell throughout the year
ended Dec. 28.
Select Comfort shares closed at $18.98 on the Nasdaq on
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by