Bedding retailer Select Comfort reported web sales of $6.9 million for the third quarter of fiscal 2009, down by 16.9% compared with the prior year quarter. Total sales were down by 6.2%.
Mark Brohan , Research Director
Bedding retailer Select Comfort Corp.’s sales declines continue, but income is up.
For the third fiscal quarter ended Oct. 3:
“Third-quarter results improved significantly as our focus on controlling costs, building our brand for improved sales and preserving cash helped mitigate the impact of ongoing market volatility,” says Bill McLaughlin, president and CEO of Select Comfort, No. 247 in the Internet Retailer Top 500 Guide. “While our business has begun to stabilize and we’re beginning to experience its longer-term potential, economic and market conditions remain uncertain. Therefore, we are planning and managing conservatively, while prepared to capitalize on growth as we see opportunities.”
The company closed 14 stores during the third quarter and 65 stores year to date, with plans to close an additional six stores by the end of 2009. Select Comfort owns about 400 stores in the U.S.
For the first nine months of fiscal 2009: