Sleep Number Defies Retail Woes as Earnings Spur Stock to Record
(Bloomberg) -- Sleep Number Corp. shrugged off concerns about slumping retail sales after better-than-expected earnings and forecasts spurred the mattress company’s shares to their highest ever.
The stock rose as much as 19 percent to its highest ever, while most other names in the S&P Supercomposite Retail Index tumbled. A surprise decline in U.S. retail sales around Christmas weighed on broader sentiment even as some analysts were skeptical about the data after the government shutdown had delayed the report by about a month.
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