Exhibit 99.1

selectcomfortlogo2015a13.jpg
FOR IMMEDIATE RELEASE


Select Comfort Announces Second Quarter 2017 Results

Reported net sales increase of 3% to $285 million
While demand exceeded expectations, inventory shortage shifted a week of deliveries ($25 million) to third quarter
Year-to-date net sales increased 8% and EPS 83%
Generated record operating cash flow of $89 million for the first six months of the year
Reiterates full-year 2017 EPS outlook of $1.25 to $1.50 per share

MINNEAPOLIS - (July 17, 2017) - Select Comfort Corporation (NASDAQ: SCSS) today reported second quarter 2017 results for the period ended July 1, 2017.

“We are pleased with traffic and sales in the second quarter, including strong demand for our revolutionary new innovation, the Sleep Number 360 smart bed,” said Shelly Ibach, president and chief executive officer of Select Comfort. “As we worked through an inventory shortage from one of our new suppliers during the quarter, about a week’s worth of deliveries shifted into the third quarter. Our underlying demand trends in the second quarter exceeded our expectations. With our growth initiatives delivering consistent traffic and sales performance, we are reiterating our full-year EPS outlook.”

Second Quarter Review
Net sales increased 3% to $285 million. Second quarter net sales reflected a $25 million net sales shift to the third quarter as a result of an inventory shortage from one of our suppliers that is now resolved
Gross profit increased 3% to $177 million, with our gross margin rate of 62.0% up 10 basis points versus the prior year
Loss per diluted share of $0.02, compared with earnings per share of $0.03 in the prior year’s quarter; second quarter earnings per share included an estimated 12 cent per share negative impact related to the shift of deliveries to the third quarter

Cash Flows and Balance Sheet Review
Generated $89 million in net cash from operating activities for the first six months of 2017, compared with $47 million for the same period last year
Invested $27 million in capital expenditures and returned $75 million of cash to shareholders through share repurchases during the first six months of 2017 compared with $24 million and $70 million, respectively, for the same period last year
Ended the quarter with $14 million of borrowings against the $153 million revolving credit facility, as planned
Return on invested capital (ROIC) was 13.6% for the trailing-twelve month period, well above our cost of capital

Financial Outlook
The company reiterates its outlook for 2017 earnings per diluted share of $1.25 to $1.50. The outlook continues to include an estimated $0.15 to $0.22 EPS impact from incremental costs related to the launch of the Sleep Number 360™ smart bed line and the evolution of our supply chain. The outlook assumes high single-digit sales growth, including 4 to 6 percentage points from net new store openings and low single-digit comp store growth. The company anticipates 2017 capital expenditures to be approximately $55 million.





The following information was filed by Select Comfort Corp (SCSS) on Monday, July 17, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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