1 Stock That Will Give You a Good Night's Sleep
It's been a challenging few weeks for Sleep Number (NASDAQ: SNBR) investors, but it didn't let the bed bugs bite when it mattered the most. Shares of the company behind the air-chambered beds with adjustable firmness settings raced higher early on Thursday after it posted blowout financial results.
Net sales rose 11% to $472.6 million, matching the top-line percentage gain it delivered for all of 2019. An encouraging 7% increase in comps combined with a 5% uptick in new stores helped deliver the better-than-expected net sales performance. Margins widened to the point where operating profit soared 61% and net income rose 54% to hit $39.1 million. Aggressive share buybacks over the past year helped earnings on a per-share basis skyrocket 70% to $1.36. Analysts were way off here, expected earnings to actually decline to $0.72 a share, with a negligible 1% uptick in net sales.
Image source: Sleep Number.
Source Fool.com
