Select Comfort cuts FY16 EPS view to $1.15-$1.25 from $1.25-$1.45
Consensus $1.24. The outlook assumes high single-digit sales growth for the full year. The outlook also assumes an 11% increase in store count in 2016 and capital expenditures of $65M, compared with $86M in 2015. The outlook does not contemplate a further deterioration of the consumer spending environment. "We delivered record operating cash flows for the first nine months of the year as our operational improvements exceeded our expectations and offset the effects of a worsening consumer environment," said Shelly Ibach, president and chief executive officer of Select Comfort. "Our investments have strengthened our direct-to-consumer business model and we are making significant progress toward delivering a more convenient customer experience. We expect the digital capabilities we're developing to succeed in the hyper-competitive digital marketplace."