Sleep Number unveils turnaround plan, $50M cost actions, targets FCF in 2026

Sleep Number Corp

Strategy 'Sleep Number Shifts' focuses on product simplification, marketing modernization, and distribution expansion.
Plans ~$50 million annualized cost actions in 2026; expects return to free cash flow generation.
Amended credit agreement with revised covenants and maturity extension provides financial stability.
Simplified product portfolio expected to improve shop-ability, conversion, and margins.
Marketing modernization targets funnel optimization and ROI; lower cost structure anticipated.

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