Select Comfort Corp. shares plunged in the extended session Wednesday after the maker of Sleep Number beds missed on quarterly earnings and forecast a profit range that mostly fell below Wall Street estimates. Select Comfort shares dropped 18% to $17.68 after hours. The company reported third-quarter earnings of 56 cents a share on revenue of $368 million. Analysts surveyed by FactSet had estimated 57 cents a share on revenue of $391 million. For the year, Select Comfort sees earnings of $1.15 to $1.25 a share, while analysts expect $1.23 a share. "Our outlook does not contemplate a further deterioration of the consumer spending environment," the company said in a statement.
Continue Reading Below
Copyright © 2016 MarketWatch, Inc.