SNBR - Why Sleep Number Was a Big Winner on Wednesday
Nearly in time for the start of the National Football League's (NFL) upcoming season, Sleep Number (NASDAQ: SNBR) is jumping on the field with one of its top teams. The mattress maker said it has extended its marketing deal with the team by three years; investors clearly considered this to be a touchdown, as they bid the company's stock up by nearly 11% on the day.
That team is none other than the reigning Super Bowl champions, the Los Angeles Rams. Sleep Number and the Rams have stretched out their existing marketing partnership for another three years. Under this deal, Sleep Number will remain the "Official Sleep + Wellness Partner" for the team.
The Rams are a relatively new partner for the company. The two sides began their marketing cooperation last year; Sleep Number claims that the team's players integrated its beds into their training regimens and as part of their normal day-to-day routines. The company went as far as to say that quality sleep "was the backbone of their Super Bowl-winning season," although that's highly debatable.
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Why Sleep Number Was a Big Winner on Wednesday