Sleep Number rallies after activist investor Stadium Capital boosts its stake

seekingalpha11-05

Olha_Afanasieva/iStock via Getty Images Sleep Number Corporation (NASDAQ:SNBR) gained in early trading on Tuesday after Stadium Capital Management increased its active stake to 11.0%. The Connecticut-...

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The Connecticut-...</p>\n\n<a href=\"https://seekingalpha.com/news/4247249-sleep-number-rallies-after-activist-investor-stadium-capital-boosts-its-stake\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SNBR","symbol_name":"Sleep Number Corporation","start_time":0,"source_url":"https://seekingalpha.com/news/4247249-sleep-number-rallies-after-activist-investor-stadium-capital-boosts-its-stake","article_id":"2481574046","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/2124988884/image_2124988884.jpg?io=getty-c-w750"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481574046","pubTimestamp":1730806952,"sourceInfo":{"source_id":"seekingalpha_trending_news","name":"Seeking Alpha Trending News"},"weMediaInfo":null,"summary":"Olha_Afanasieva/iStock via Getty Images Sleep Number Corporation (NASDAQ:SNBR) gained in early trading on Tuesday after Stadium Capital Management increased its active stake to 11.0%. The Connecticut-","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SNBR":"Sleep Number Corporation","BK4178":"家庭装饰零售"},"translate_title":"激进投资者Stadium Capital增持股份后睡眠数量上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SNBR":0.9},"content_text":"Olha_Afanasieva/iStock via Getty Images Sleep Number Corporation (NASDAQ:SNBR) gained in early trading on Tuesday after Stadium Capital Management increased its active stake to 11.0%. The Connecticut-based hedge fund firm now holds about 2.46 million shares after holding 1.8 million shares at the end of Q3. In its SEC filing, Stadium Capital noted Sleep Number's (SNBR) leadership and governance changes announced on October 30. However, while the changes were noted to represent forward progress, Stadium Capital said it remains concerned with Sleep Number's (SNBR) long-term underperformance and intends to engage with the company and other market participants to assess whether further change is necessary. Last week, Sleep Number (SNBR) reported Q3 revenue fell 9.8% year-over-year and EPS was -$0.14 for the quarter. The company pointed to ongoing weakness in the bedding industry. Sleep Number (SNBR) expects 2024 full-year net sales to be down approximately 10%, consistent with year-to-date net sales performance. 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