Sleep Number

Last updated
Sleep Number Corporation
FormerlySelect Comfort (1987-2017)
Company type Public
Nasdaq:  SNBR
Industry Retail
Founded1987(37 years ago) (1987)
Founders
  • Robert "Bob" Walker
  • JoAnn Walker
Headquarters,
Number of locations
579 (Dec. 2018)
Area served
United States
Key people
Shelly Ibach (CEO)
ProductsAdjustable mattresses and bedding
BrandsSmart Bed
RevenueIncrease2.svg $1.856 billion (2021)
Increase2.svg US$184 million (2021)
Increase2.svg US$139 million (2021)
Total assets Increase2.svg US$930 million (2021)
Total equity Increase2.svg US$175 million (2021)
Number of employees
4,220 (Dec. 2018)
Website sleepnumber.com
Footnotes /references
[1] [2]

Sleep Number is an American manufacturer that makes the Sleep Number and Comfortaire beds, foundations and bedding accessories. The company is based in Minneapolis, Minnesota. [3] In addition to its Minnesota headquarters, Sleep Number has manufacturing and distribution facilities in South Carolina and Utah. As of 2023, the company employed 5,515 people across the United States. [4]

Contents

History

In 1980, the category of adjustable air-supported sleep systems was invented by a private company, Comfortaire Corporation of South Carolina. [5] Robert Walker left Comfortaire and he and his wife, JoAnne Walker, formed a new company in 1987 called Select Comfort.

Select Comfort acquired the Comfortaire Corporation in January 2013. [6] In March 2017, Select Comfort closed its Comfortaire third-party retail business. [7] In November 2017, Select Comfort Corporation changed their corporate name to Sleep Number Corporation. [8]

The company's TV commercials used to feature actress Lindsay Wagner. [9] Other endorsers include conservative radio talk show hosts Glenn Beck, Paul Harvey and Laura Ingraham. Rush Limbaugh also previously advertised the product, but the company pulled its advertising in the wake of the Rush Limbaugh–Sandra Fluke controversy. [10] Sleep Number is the official sleep and wellness partner of the NFL. Its commercials also feature star athletes like the Dallas Cowboys' Dak Prescott.

Robert Walker left Select Comfort in 2001 and formed an alternative energy company, Bixby Energy Systems. In 2014, he was convicted and sentenced to 25 years in prison for fraud, tax evasion, witness tampering and conspiracy for repeatedly misleading investors about Bixby Energy. [11] [12]

As of December 2011, Sleep Number holds 23 issued or pending U.S. patents and 40 issued or pending foreign patents for its products. [13] In September 2017, According to the Global Mattress Toppers market research report, Sleep Number was among the key players of Mattress Toppers market. [14] [15]

In January 2020, Sleep Number announced a collaboration with Mayo Clinic to further sleep science research and cardiovascular medicine, valued at $10M over five years. [16] In February 2022, Sleep Number entered into a long-term partnership with the American Cancer Society to embark upon foundational sleep research to identify the impact of quality sleep on cancer prevention and recovery. [17]

Sleep Number Bed

The company manufactures the Sleep Number® bed, an adjustable air mattress. The "Sleep Number® setting" is a setting that adjusts the firmness or softness of the mattress on each side of the bed using air pressure (dual air chambers, one on each side), with higher numbers (up to 100) denoting higher pressure and more firmness, and lower numbers denoting less pressure and more softness. Sleep Number's latest line of beds, the 360 Smart Bed®, launched in 2017. The "Smart" features include Dual Adjustability for adjustable comfort and firmness on each of the bed; Responsive Air® technology, which allows the mattress to respond to movements and automatically adjusts firmness; and SleepIQ® technology, which shows sleep quality via a SleepIQ® score, with personal insights for better sleep. [18] Sleep Number Beds can hold up to 850 lbs. of combined weight, with each side able to support 400-420 pounds. [19]

In 2005, Sleepy's, which is now Mattress Firm, sued Select Comfort, currently known as Sleep Number, for disparaging the quality and comfort of Personal Preference beds made by Sleepy's, and said Sleepy’s offered inferior warranties. The case revolved around whether or not Select Comfort violated a 2005 contract that let Sleepy’s sell a Select Comfort product, while Select Comfort sold an arguably superior product in its own stores. The case was originally dismissed in 2015 by U.S. District Judge Joanna Seybert in Central Islip, New York but later revived by the 2nd U.S. Circuit Court of Appeals in 2018 after finding out that the lower court misinterpreted part of the New York law. The appeals court also threw out a $2.63 million legal fee award for Sleep Number. [20] In 2015, a class action lawsuit was filed against Sleep Number and Leggett & Platt accusing the companies of failing to uphold the warranty and fix a bed they sold to customers, David and Katina Spade. The suit claims there were several other customers who experienced similar issues. [21]

On November 9, 2019 Dires LLC, the legal entity that sells the Personal Comfort Bed, filed a lawsuit in Minnesota state court accusing Sleep Number of monopolization, tortious interference, deceptive trade and unjust enrichment. This stems out of a previous court ruling stating that Sleep Number has no trademark rights to the phrase “number bed.” The new lawsuit claims that Sleep Number falsely told Google that it owns the trademark rights for "number bed," causing Google to deny Dires the use of the phrase to attain more clicks to its website. Dires also accused Sleep Number of targeting it with false, misleading and defamatory reviews and comments about its products. They provided evidence of Sleep Number employees posting false and negative comments about its products on Facebook and YouTube. [22]

Related Research Articles

<i>Futon</i> Traditional Japanese bedding

A futon is a traditional Japanese style of bedding.

<span class="mw-page-title-main">Air mattress</span> Type of mattress

An air mattress is an inflatable mattress or sleeping pad.

<span class="mw-page-title-main">Mattress</span> Large soft sheet for laying on to sleep

A mattress is a large, usually rectangular pad for supporting a lying person. It is designed to be used as a bed, or on a bed frame as part of a bed. Mattresses may consist of a quilted or similarly fastened case, usually of heavy cloth, containing materials such as hair, straw, cotton, foam rubber, or a framework of metal springs. Mattresses may also be filled with air or water.

<span class="mw-page-title-main">Bed size</span> Dimensions of sleeping mattresses

Standard bed sizes are based on standard mattress sizes, which vary from country to country. Bed sizes also vary according to the size and degree of ornamentation of the bed frame. Dimensions and names vary considerably around the world, with most countries having their own standards and terminology. In addition, two mattresses with the same nominal size may have slightly different dimensions, due to manufacturing tolerances, amount of padding, and support type. Mattress sizes may differ from bedding sizes.

<span class="mw-page-title-main">Bedding</span> Bed covering fabrics

Bedding, also called bedclothes or bed linen, is the materials laid above the mattress of a bed for hygiene, warmth, protection of the mattress, and decorative effect. Bedding is the removable and washable portion of a human sleeping environment. Multiple sets of bedding for each bed are often washed in rotation and/or changed seasonally to improve sleep comfort at varying room temperatures. Most standardized measurements for bedding are rectangular, but there are also some square-shaped sizes, which allows the user to put on bedding without having to consider its lengthwise orientation.

<span class="mw-page-title-main">Memory foam</span> Component primarily utilized for making cushions or mattresses

Memory foam consists mainly of polyurethane with additional chemicals that increase its viscosity and density. It is often referred to as "viscoelastic" polyurethane foam, or low-resilience polyurethane foam (LRPu). The foam bubbles or ‘cells’ are open, effectively creating a matrix through which air can move. Higher-density memory foam softens in reaction to body heat, allowing it to mold to a warm body in a few minutes. Newer foams may recover their original shape more quickly.

<span class="mw-page-title-main">Goodnites</span> Disposable undergarments designed for managing Nocturnal Enuresis

Goodnites are diapers designed for managing bedwetting. Goodnites are produced by Kimberly-Clark. The product has also been seen titled as Huggies Goodnites on official Huggies branded webpages.

<span class="mw-page-title-main">Electric blanket</span> Blanket with electric heating

An electric blanket is a blanket that contains integrated electrical heating wires. Types include underblankets, overblankets, throws, and duvets. An electric underblanket is placed above the mattress and below the bottom bed sheet. This is the most common type in the UK and Commonwealth countries, where it is known by default as an "electric blanket"; in the U.S. and Canada, where it is less common, it is called an electric heated mattress pad. An electric overblanket is placed above the top bed sheet, and is the most common type in the U.S. and Canada, where it is called an "electric blanket".

<span class="mw-page-title-main">Mattress protector</span> Bedding product

A mattress protector is an item of removable bedding that sits on top of, or encases, a mattress to protect it. Some mattress protectors also provide protection to the person sleeping on the mattress from allergens and irritants such as dust mites, bed bugs, mold, and dead skin.

<span class="mw-page-title-main">PrimaLoft</span>

PrimaLoft® is a brand of patented synthetic microfiber thermal insulation material that was developed for the United States Army in the 1980s. PrimaLoft is a registered trademark of PrimaLoft, Inc., the brand's parent company.

An adjustable bed is a bed which has a multi-hinged lying surface which can be profiled to a number of different positions. Common adjustments include inclining the upper body and raising the lower body independently of each other. Other common features include height adjustment and tilting the bed to raise the upper body or the lower body into the Trendelenburg or reverse Trendelenburg positions.

Sleepy's was a retail mattress chain with over 1,000 stores, primarily situated in the northeastern United States. The company was founded in New York City in 1931. Sleepy's was acquired by Mattress Firm in December 2015 and all stores were rebranded under the Mattress Firm name on January 1, 2017, but the website continued as an online retailer until 2018. Mattress Firm now uses the Sleepy's name for their private label mattresses.

1800Mattress.com was an American bedding retailer headquartered in Hicksville, New York and famous for its ads that used the slogan "leave off the last S for savings".

<span class="mw-page-title-main">Mattress Firm</span> American mattress retailer

Mattress Firm Inc. is an American mattress store chain founded on July 4, 1986. The headquarters of the company is located in Houston, Texas.

<span class="mw-page-title-main">My Pillow</span> Pillow-manufacturing company based in Minnesota, U.S.

My Pillow, Inc. is an American pillow-manufacturing company based in Chaska, Minnesota. The company was founded in 2009 by Mike Lindell, who invented and patented My Pillow, an open-cell, poly-foam pillow design. From 2004 to 2009, My Pillows were sold through Lindell's Night Moves Minnesota, LLC, and have been sold through My Pillow, Inc. since 2009. My Pillow has sold over 41 million pillows, due mostly to TV infomercials. The company started with five employees in 2004 and had 1,500 employees by 2017.

GoodMorning.com is a Canadian E-commerce mattress and sleep product company. The majority of their products are manufactured and sold in Canada, with select products made and sold in the United States.

Casper Sleep is an e-commerce company that sells sleep products online and in retail locations. Headquartered in New York City, the company has showrooms in New York City, Chicago, and elsewhere. Its mattresses are manufactured in Georgia and Pennsylvania.

<span class="mw-page-title-main">Eight Sleep</span> American technology company

Eight Sleep is an American company that develops products for "sleep fitness".

Simba Sleep is a British online mattress group that was founded in 2015. It manufactures and sells mattresses, bedding and other sleep products in several countries, including the UK, Canada and China. Simba's retail partnerships include John Lewis and Argos in the UK and Sleep Country stores in Canada.

Amerisleep is an American memory foam mattress and bedding company based in Scottsdale, Arizona. The company was founded in 2010 and it has retail locations in Arizona, Colorado, Texas, Oregon, Houston and three stores in South Korea.

References

  1. "Sleep Number Corporation Form 10-K". Securities and Exchange Commission. 2018.
  2. "SNBR Financials". Forbes.
  3. "Select Comfort moving headquarters to downtown Minneapolis". Star Tribune. Retrieved 2018-10-27.
  4. "Sleep Number Number of Employees, Statistics, Diversity, Demographics, and Facts - Zippia". www.zippia.com. 2022-03-25. Retrieved 2023-05-14.
  5. "Comfortaire History".
  6. "Select Comfort buys Comfortaire in $15.5 million deal – Furniture Today". furnituretoday.com.
  7. Select Comfort to close Comfortaire, Third Party Retail Business.
  8. "Select Comfort Changes Name to Sleep Number" . Retrieved 2017-12-21.
  9. "Select Comfort – Simple Solution". YouTube. Archived from the original on 2021-12-13. Retrieved April 26, 2012.
  10. "Rush Limbaugh in hot water with sponsors after 'slut' remark". MSNBC. March 2, 2012. Archived from the original on May 1, 2012.
  11. Farnham, Alan (August 28, 2013). "No Sleep Number in Slammer: Select Comfort Founder Jailed: Minnesota's Former Mattress Maker Fighting Felony Charges". abcnews.
  12. "Judge sentences ex-CEO to 25 years in Bixby fraud". Star Tribune. Retrieved 2018-08-30.
  13. "Select Comfort Corporation Form 10-K". Securities and Exchange Commission. 2011.
  14. "Global Mattress Toppers Market Data Survey Report 2025". Market.Biz. Retrieved 2017-10-16.
  15. Simpson, James. "Global Mattress Toppers Market 2017: Select Comfort Corporation, Serta, Tempur-Pedic, Sealy and Simmons | Reporter Day - Daily News Updates". reporterday.com. Retrieved 2017-10-16.
  16. "Sleep Number Announces Collaboration With Mayo Clinic to Advance Sleep Science and Cardiovascular Medicine". businesswire.com. 8 January 2020. Retrieved 22 September 2022.
  17. "American Cancer Society and Sleep Number Partner to Study Impact of Quality Sleep on Cancer Prevention and Survivorship". prnewswire.com. American Cancer Society. 2 February 2022. Retrieved 22 September 2022.
  18. "Sleep Number's new 360 smart bed automatically adjusts to your sleep position". theverge.com. Retrieved 2019-04-30.
  19. Norton, Michelline (2022-12-27). "Sleep Number Bed Weight Limit (Recommended Settings)". Sleepline. Retrieved 2023-05-14.
  20. "US court revives the Mattress Firm defamation case against Sleep Number". cncb.com. Retrieved 2020-01-14.
  21. "Class action filed over Sleep Number Beds' warranties". washingtonexaminer.com. Retrieved 2019-12-30.
  22. "KC-area bed manufacturer accuses Sleep Number of dirty pool". www.bizjournals.com/. Retrieved 2019-12-31.