Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Select Comfort Q4 Outlook Weak, FY Guidance Slashed, Shares Hammered

Thursday, October 17, 2013 7:07 AM
Select Comfort Corp. (NASDAQ: SCSS) said on Wednesday that fiscal third quarter earnings dropped 23% as higher operating costs put the pressure on the bottom line, masking improvement in sales. Shares tumbled more than 25% in aftermarket hours on Wednesday as both core earnings and revenue missed analysts’ expectation. The Company also slashed its outlook for the full fiscal year. The mattress maker now anticipates earnings of $1.14 to $1.22 a share for the fiscal 2013, down from its previous estimate of $1.30 to $1.45 a share. For the current quarter, the Company expects earnings to be in the range of 18 cents to 26 cents a share, which is below analysts’ estimate of 32 cents a share, according to a poll conducted by Reuters. Speaking to analysts in a conference call, Select Comfort Corp.’s President and Chief Executive, Shelly Ibach said, "The consumer responded positively to our product innovations and exclusive retail experience as evidenced by market-share gains along with favorable operational and customer-focused metrics," “However, our execution was muted by a progressively more challenged macro-economic environment, resulting in performance below expectations” added Ibach. For the latest period, Select Comfort posted an income of $20.3 million or 36 cents a share compared to a profit of $26.2 million or 46 cents a share, in the year-ago period. Revenue rose 6.8% to $264 million. Analysts surveyed by Thomson Reuters had forecasted earnings of 43 cents a share on revenue of $277 million. Gross margin contracted to 63.1% from 65.1% while operating costs rose 13% as sales and marketing expenses climbed 16%.  Same-store-sales slipped 1% in the fiscal third quarter.  
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2015 the year you get RICH!

Latest Headlines

Fed's Fischer: Too much weight placed on Fed's first rate hikeFed's Fischer: Too much weight placed on Fed's first rate hike
HERZLIYA, Israel (Reuters) - U.S. Federal Reserve Vice Chairman Stanley Fischer said it was "misleading" to give so much importance to the Fed`s first interest rate hike since the process of returning...
Charter nears deal for Time Warner Cable at $195/share: sourcesCharter nears deal for Time Warner Cable at $195/share: sources
(Reuters) - Charter Communications Inc is near an agreement to acquire Time Warner Cable Inc for $195 per share in cash and stock, a person familiar with the matter said on Monday. Charter will pay ...
Charter nears $55 billion deal for Time Warner Cable: sourceCharter nears $55 billion deal for Time Warner Cable: source
(Reuters) - Charter Communications Inc is nearing a $55 billion agreement to acquire Time Warner Cable Inc, combining the third- and second-largest U.S. cable operators, a person familiar with the m...
Regulation should be main tool against bubbles: Fed's Mester Regulation should be main tool against bubbles: Fed's Mester
REYKJAVIK, Iceland (Reuters) - Central bankers should be aware of the potentially destabilizing effects of super-easy policy on financial systems, a top U.S. Federal Reserve official said on Monday, e...
Dollar back in vogue on CPI boost, Yellen's comments  Dollar back in vogue on CPI boost, Yellen's comments
LONDON (Reuters) - The dollar hit a one-month high against a basket of major currencies on Monday after stronger-than-expected underlying U.S. inflation bolstered the Federal Reserve`s case for an i...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.

Algorithm Based
Trade Signals
arrow
swing trades FREE Swing Trade Ideas Clear, simple swing trades.
small cap swing trades Futures Day Trading System S&P + Crude Oil Signals
Autotrading Autotrade Stocks Try for Free!