The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
The bed maker and retailer also acquires an air-support bed maker.
Select Comfort Corp., a manufacturer and retailer of beds, grew total and web sales in 2012, and purchased bed maker Comfortaire Corp. last week.
For the fiscal year ended Dec. 29, Select Comfort,
No. 225 in the 2012 Internet Retailer Top 500 reported:
- Online sales represented 7.5% of total sales. Based on that percentage web sales were $70.1 million, an 8.3% increase from $64.7 million in 2011.
- Total sales of about $935.0 million, a 25.8% increase from $743.2 million in 2011.
- Comparable-store sales grew 23%.
- Net income of $78.1 million, up by 29.1% from $60.5 million in 2011.
Select Comfort, which makes Sleep Number adjustable beds, announced yesterday the purchase of the business and assets of Comfortaire Corp., a manufacturer of adjustable air-supported beds, from mattress manufacturer Park Place Corp. The $15.5 million transaction closed on Jan. 17, Select Comfort says.
Comfortaire had 2012 revenue of $10.5 million in 2012, Select Comfort says, and will continue to operate the Comfortaire business through an independent subsidiary.
Shelly Ibach, president and CEO says Select Comfort is “pleased that the second-largest adjustable air-bed company–with its experienced team and shared commitment to quality, innovation and individualization–is now part of Select Comfort.”
For the fourth quarter, Select Comfort reported:
- Web sales represented 7.8% of total sales. Based on that percentage web sales were $17.2 million, a 2.3% decrease from $17.6 million in 2011.
- Total sales of $220.6 million, up by 16.7% from $189.1 million in the fourth quarter of 2011.
- Comparable-store sales grew 11%.
- Net income of $12.5 million, an 18.8% decline from $15.4 million in Q4 2011.