Select Comfort Corp. (SCSS) reported net income for the first quarter of $23.5 million or $0.42 per share, compared with $22.4 million or $0.39 per share for the year-ago quarter.
Excluding a CEO transition charge, adjusted earnings for the first quarter were $0.41 per share, compared to $0.45 per share in the prior year quarter.
Net sales for the quarter decreased 2% to $258.24 million from $262.38 million a year ago.
Analysts poled by Thomson Reuters expected the company to earn $0.43 per share on revenue of $287.95 million for the first quarter. Analysts' estimates typically exclude special items.
The company lowered its full-year 2013 earnings outlook to a range of $1.30 to $1.45 per share from its prior outlook of $1.65 to $1.80 pr share.
The company said the outlook reflects the impact of the media-buying issue and slowing industry trends, and assumes a company-controlled comparable sales increase for the remainder of the year of low- to mid-single digits. The outlook also reflects a net increase in store count from 410 at year-end 2012 to between 435 and 445 by year-end 2013.
Analysts currently expect the company to earn $1.52 per share for the full year 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.