Minneapolis-based airbed maker Sleep Number reported another strong quarter and high demand for its products. In its third quarter of fiscal 2021, which ended Oct. 2, operating income rose 4% to $73 million on net sales of a record $640 million, with diluted earnings per share of $2.22. Net sales reflected a 21% increase when compared with the third quarter of fiscal 2020, and a 35% increase when compared with prepandemic second quarter of fiscal 2019.
“Our record third-quarter financial results exceeded our expectations and demonstrate the power of our advantaged business model and our teams’ stellar execution. We are driving sustainable demand and market share gains with our life-changing 360 Smart Beds by advancing proven initiatives,” said Shelly Ibach, president and chief executive officer, in a news release. “Given our unique competitive leadership at the intersection of well-being and technology, the worldwide shortage of semiconductors and other electronic components are a major challenge, elongating the timing of some customer deliveries. I could not be prouder of how our teams are aggressively pursuing solutions for these shortages to ensure we fulfill our mission of improving lives by individualizing sleep experiences.”