Why Sleep Number Stock Was a Nightmare Today
Shares of Sleep Number (NASDAQ: SNBR) were crashing today after the mattress maker posted disappointing results in its second-quarter earnings report.
As of 10:07 a.m. ET, the stock was down 30.6%.
Sleep Number said revenue in the quarter fell 16% to $459 million, missing estimates at $471.4 million. Demand was down mid-single digits in the quarter, but improved throughout the second quarter, implying a change in inventory contributed to the revenue decline.
Source Fool.com
