SNBR - Why Sleep Number Stock Was Down on an Up Day for the Market
It's very possible that investors in Sleep Number (NASDAQ: SNBR) will do a little tossing and turning in the dozing hours tonight. The company's stock fell by 1.9% Thursday, on a day when the S&P 500 index enjoyed a 1.5% gain. The immediate reason was Sleep Number's latest quarterly numbers.
After market hours on Wednesday, Sleep Number published the results of its fourth quarter and full-year 2021. Across the quarter, net sales fell by 13% on a year-over-year basis to $492 million. This despite demand for the company's products that, in its words, "increased high-single digits" in terms of percentage.
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Why Sleep Number Stock Was Down on an Up Day for the Market