Select Comfort Management Hosts Investor Day (Transcript)

We are early in our growth journey and approximately, with just approximately 5% market share and less than 2% unit market share. And we are well positioned to continue to accelerate investment in our unique product and distribution. Consideration of the non-innerspring is now similar to innerspring, indicating the adoption of innerspring-alternative products. This consideration comparison is even more impressive given the fact that non-innerspring has been comprised of primarily premium price points to this point.

The consideration shift is consistent with the consumer trends related to health and wellness. Consumers are seeking quality products and contributing positively to well being. Our exclusive, or company-controlled, distribution allows us to lean into this opportunity and not be at risk of losing selling floor presidents who are focused on our product due to increased competition in the category. We don’t have that risk.

Sleep Number’s vision is to become the new standard in Sleep by individualizing Sleep experiences. Let me take a minute and speak to the individualizing. Consistent with the trends that we’ve all experienced in coffee, with Starbucks and Peet’s and Nespresso and some of those other brands, and the trends that we’ve seen with Apple, individualization is a key trend and that’s what Sleep Number has always been and is about, individualizing the experience which is broader than just the mattress for our customer. It’s inclusive of understanding what the customer desires and what their needs are and matching it with product that gives them a fully integrated Sleep experience.

To realize this vision, we’ve established five long-term goals. Our growth strategies support these consumer-centric goals and we will communicate our progress against these goals on a regular basis. As you may expect, our first goal is about awareness. Everyone will know Sleep Number and how it will improve their life.

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