MINNEAPOLIS—Select Comfort posted a net loss of $4 million in the second quarter, compared to a $6.6 million net loss from the second quarter of last year.
A company statement said the manufacturer-retailer of mattresses achieved improvements in its operating results in what has been, historically, its weakest selling period. Select Comfort closed 21 stores during the quarter, reducing its fixed-store costs; drastically reduced its marketing spend as a percentage of net sales; and slimmed down general, administrative, research and development expenses. All of these actions resulted in operating income of $952,000, compared to a second-quarter 2008 operating loss of $10.3 million.
Second-quarter net sales totaled $120.6 million, down 21 percent from last year. The 21 store closings in the second quarter bring the store-closing total for the year to 51, with plans to close an additional 15 stores by the end of 2009.
The company also said it is making progress in its efforts to recharge its signature Sleep Number brand. Select Comfort unveiled a redesign of the line in the first quarter, and said it has achieved results from its core direct-marketing and local-radio campaign highlighting the benefits of the new Sleep Number beds and the locations of its stores.