secwatch.observer — SEC 8-K summary
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Issuer:     Sleep Number Corp (SNBR)
CIK:        0000827187
Form:       8-K
Filed at:   2025-07-30T23:59:59+00:00
Accession:  0000827187-25-000096
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sleep Number Q2 net sales down 19.7% to $328M, net loss $25M; raises cost savings target to $130M
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- Net sales $328M, down 19.7% YoY; net loss $25M ($1.09/sh) vs loss $5M last year
- Adjusted EBITDA $24M, down 17%; adjusted EBITDA margin improved 30 bps to 7.2%
- Raising annual cost savings target to $130M (from $80-100M); maintains covenant compliance at 4.56x vs 4.75x max
- FY2025 net sales guidance ~$1.45B, down ~14% YoY; expects break-even FCF in H2
- CEO cites turnaround, aggressive cost cuts, new marketing strategy; expects sequential topline improvement

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827187/000082718725000096/0000827187-25-000096-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827187/000082718725000096/snbr-20250730.htm
  HTML page:      https://secwatch.observer/filing/0000827187-25-000096

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