secwatch.observer — SEC 8-K summary
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Issuer:     Sleep Number Corp (SNBR)
CIK:        0000827187
Form:       8-K
Filed at:   2024-10-30T23:59:59+00:00
Accession:  0000827187-24-000085
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sleep Number Q3 sales down 10% to $427M; CEO Ibach to retire
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- Net sales of $427M, down 10% YoY; gross margin 60.8% (+340 bps YoY).
- Adjusted EBITDA $28M, up 11% YoY; FY2024 adj EBITDA outlook $115-125M.
- Operating expenses reduced $17M in Q3 and $60M YTD (before restructuring).
- Free cash flow $34M YTD, up $50M vs prior year; leverage ratio 4.2x EBITDAR.
- CEO Shelly Ibach to retire no later than 2025 Annual Meeting; Board declassification and size reduction.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827187/000082718724000085/0000827187-24-000085-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827187/000082718724000085/snbr-20241030.htm
  HTML page:      https://secwatch.observer/filing/0000827187-24-000085

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