Share of Sleep Number Corp. SNBR tumbled 15.1% in premarket trading Friday, after the bed and mattress maker provided a downbeat full-year outlook and said its chief financial officer was stepping down after nearly 9 years in the role. The company said its expects to report 2022 earnings per share of $1.60, which is below the current FactSet consensus of $1.71, and sales of $2.04 billion, which is below expectations of $2.11 billion. The company said it will release actual results on Feb. 22, after the market close. Separately, the company said CFO David Callen will step down effective Jan. 30, to pursue other opportunities, after being in that role since April 2014. The company named Chief Human Resources Officer Chris Krusmark was named interim CFO until a permanent replacement is found. The stock has soared 22.4% in January through Thursday, but has plunged 55.0% over the past 12 months, while the S&P 500 SPX has gained 5.8% this year and slipped 6.2% over the past year.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.