Sleep Number Corporation (NASDAQ:SNBR) Q3 2020 Earnings Conference Call October 14, 2020 5:00 PM ET Company Participants Dave Schwantes - VP of Finance and IR Shelly Ibach - President and CEO David Callen - CFO Conference Call Participants Peter Keith - Piper Sandler Brad Thomas - KeyBanc Bobby Griffin - Raymond James Seth Basham - Wedbush Securities Atul Maheswari - UBS Curtis Nagle - Bank of America Operator Welcome to Sleep Number's Third Quarter 2020 Earnings Conference Call. [Operator Instructions] Tod ...

Sleep Number Corporation (NASDAQ:SNBR) Q2 2020 Results Conference Call July 15, 2020 5:00 PM ET Company Participants Dave Schwantes - Vice President of Finance & Investor Relations Shelly Ibach - President & Chief Executive Officer David Callen - Chief Financial Officer Conference Call Participants Peter Keith - Piper Sandler Bobby Griffin - Raymond James Seth Basham - Wedbush Securities Brad Thomas - KeyBanc Capital Curtis Nagle - Bank of America Atul Maheswari - UBS Operator Welcome to Sleep Number's Seco ...

Financial Data and Key Metrics Changes - The company reported a net sales growth of 11% to $473 million, with a comparable store sales gain of 7% and five points from new stores [15][44] - Net operating profit increased by 61% to 11% of net sales, while earnings per share grew by 70% to $1.36 [15][47] - Free cash flow rose by 54% to $75 million, with a gross margin rate increase of 240 basis points to nearly 64% [15][45] Business Line Data and Key Metrics Changes - Units sold grew by 10%, and average revenue per unit (ARU) increased by 2%, contributing to the overall sales growth [15][44] - Online and phone sales in Q1 increased by 21% compared to the previous year, indicating a shift in consumer purchasing behavior [45] Market Data and Key Metrics Changes - Approximately 80% of stores were closed by March 31, leading to a significant decline in sales orders, which dropped nearly 80% during the last two weeks of March [20][60] - By April, sales orders improved to being down approximately 50%, reflecting a recovery trend as digital sales surged [21][60] Company Strategy and Development Direction - The company is focused on preserving financial flexibility, increasing liquidity, and controlling expenses amid the COVID-19 pandemic [11][12] - A shift towards digital capabilities has been implemented, with 50% of sales coming from online channels, showcasing the company's adaptability [19][65] - The launch of new 360 smart bed software features has been postponed to the third quarter, aligning with expected recovery in store operations [25][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to rebound strongly post-crisis, citing strong competitive advantages and a resilient team [17][30] - The company withdrew its 2020 guidance due to uncertainty surrounding the pandemic's impact, anticipating continued pressure on sales through May [28][29] - Consumer demand for the company's products remains strong, with digital traffic showing double-digit increases year-over-year [30] Other Important Information - The company has taken measures to support healthcare efforts, such as refurbishing N95 masks at its manufacturing plant [23] - The company has implemented various cost-saving measures, including furloughing or reducing hours for approximately 70% of team members [12][40] Q&A Session Summary Question: What is happening with stores in states that have recently reopened? - Management noted that store performance varies by state, with some experiencing low traffic but high average revenue per unit, while others see more cautious customer behavior [52][54] Question: How are customers responding to in-store experiences during the pandemic? - The company follows CDC guidelines for safety, offering private appointments and maintaining low occupancy in stores to address customer concerns [56][57] Question: Can you clarify the sales performance in April? - Sales orders were down approximately 80% at the end of March but improved to being down about 50% in April due to enhanced digital capabilities [60][61] Question: What percentage of sales came from online purchases in April? - In April, 25% of sales came from closed stores, 25% from open stores, and 50% from online channels, indicating a significant shift towards digital sales [65] Question: How is the company managing labor costs during the downturn? - The company has taken decisive actions to manage labor costs, with plans to cautiously bring back employees as demand increases [117][119]

Sleep Number Corporation (NASDAQ:SNBR) Q3 2019 Earnings Conference Call October 15, 2019 5:00 PM ET Company Participants | --- | --- | |----------------------------------------------------------------------|---------------------------------------| | | | | Dave Schwantes - VP, Finance and IR Shelly Ibach - President and CEO | | | David Callen - SVP and CFO | | | Conference Call Participants John Baugh - Stifel | | | Bobby Griffin - Raymond James | | | | Brad Thomas - KeyBanc Capital Markets | | Peter Keith - ...

Sleep Number Corporation (NASDAQ:SNBR) Q2 2019 Results Earnings Conference Call July 25, 2019 5:00 PM ET Â Company Participants | --- | |-------------------------------------------------------------| | | | Dave Schwantes - VP, Finance and IR | | Shelly Ibach - President and CEO David Callen - SVP and CFO | | Conference Call Participants | | John Baugh - Stifel | | Bobby Griffin - Raymond James | | Brad Thomas - KeyBanc Capital Markets | | Peter Keith - Piper Jaffray | | Seth Basham - Wedbush | | Curtis Nagl ...

Sleep Number Corporation (NASDAQ:SNBR) Q1 2019 Earnings Conference Call April 17, 2019 5:00 PM ET Company Participants Dave Schwantes - Vice President, Finance and Investor Relations Shelly Ibach - President and Chief Executive Officer David Callen - Senior Vice President and Chief Financial Officer Conference Call Participants Bobby Griffin - Raymond James Brad Thomas - KeyBanc Capital Markets John Baugh - Stifel Jordana Cooper - Barclays Keith Hughes - SunTrust Bobby Griffin - Raymond James Michael Lasser ...

Sleep Number Corporation (NASDAQ:SNBR) Q4 2018 Earnings Conference Call February 13, 2019 5:00 PM ET Company Participants Dave Schwantes - Vice President, Finance & Investor Relations Shelly Ibach - President & Chief Executive Officer David Callen - Senior Vice President & Chief Financial Officer Conference Call Participants John Baugh - Stifel Bobby Griffin - Raymond James Brad Thomas - KeyBanc Peter Keith - Piper Seth Basham - Wedbush Matthew McClintock - Barclays Keith Hughes - SunTrust Michael Lasser - ...

sleep + number Sleep Number Corporation (SNBR) February 2019 - @ Forward-Looking Statements Statements used in this news release relating to future plans, events, financial results or performance are forward-looking statements subject to certain risks and uncertainties including, among others, such factors as current and future general and industry economic trends and consumer confidence; the effectiveness of our marketing messages; the efficiency of our advertising and promotional efforts; our ability to e ...