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Why Sleep Number Stock Was a Nightmare Today

TheMotleyFool

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Why Sleep Number Stock Was a Nightmare Today: https://g.foolcdn.com/editorial/images/741681/person-having-trouble-sleeping-insomnia-mattress-bed-sleep.jpg

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

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