Jan 6 Select Comfort Corp, a specialty
mattress maker, estimated holiday-quarter sales below analysts'
expectations, blaming a slowdown from Cyber Monday through
Shares of Select Comfort plunged 20 percent in early trading
on the Nasdaq after the company warned that the weak shopping
trends would continue this year.
The company estimated fourth-quarter sales of about $231
million and company-controlled same-store sales to be flat.
It expects profit to be below the low end of its forecast of
18 cents to 26 cents per share.
Analysts on average were expecting sales of $241.7 million,
according to Thomson Reuters I/B/E/S.
The company's shares were down 18 percent at $17.53 in
morning trade. They fell to a low of $17.14 earlier in the
(Reporting by Devika Krishna Kumar; Editing by Savio D'Souza)