Sleep Number Corporation (NASDAQ:SNBR) Q3 2023 Results Conference Call November 7, 2023 5:00 PM ET
Company Participants
Dave Schwantes - VP, Finance and IR
Shelly Ibach - Chair, President and CEO
Francis Lee - CFO
Conference Call Participants
Bobby Griffin - Raymond James
Peter Keith - Piper Sandler
Brad Thomas - KeyBanc Capital Markets
Atul Maheswari - UBS
Operator
Thank you. Welcome to Sleep Number’s Q3 2023 Earnings Conference Call. All lines have been placed in a listen-only mode until the question-and-answer session. Today’s call is being recorded. If anyone has objections, you may disconnect at this time.
I would like to introduce Dave Schwantes, Vice President of Finance and Investor Relations. Thank you. You may begin.
Dave Schwantes
Good afternoon, and welcome to the Sleep Number Corporation third quarter 2023 earnings conference call. Thank you for joining us.
I am Dave Schwantes, Vice President of Finance and Investor Relations. With me today are Shelly Ibach, our Chair, President and CEO; and Francis Lee, our Chief Financial Officer.
This telephone conference is being recorded and will be available on our website at sleepnumber.com. Please refer to the details in our news release to access the replay. Please also refer to our news release for a reconciliation of certain non-GAAP financial measures and supplemental financial information included in the news release or that may be discussed on this call.
The primary purpose of this call is to discuss the results of the fiscal period just ended. However, our commentary and responses to your questions may include certain forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties outlined in our earnings news release and discussed in some detail in our annual report on Form 10-K and other periodic filings with the SEC. The Company’s actual future results may vary materially.
I will now turn the call over to Shelly for her comments.
Shelly Ibach
Good afternoon, everyone. My Sleep IQ score was 91 last night. I’m pleased to be joined on this call by our new CFO, Francis Lee, who brings significant relevant experience to Sleep Number as we evolve our operating model and maximize our competitive advantages to drive long-term shareholder value.
The third quarter was challenging. As the demand trajectory abruptly changed in August and September, we acted quickly, taking immediate actions to recalibrate our sales and marketing approach, further reduce costs and strengthen our balance sheet. As a result of these broad based actions, we are better positioned to navigate a range of economic environments next year and fulfill our purpose of improving the health and wellbeing of society through higher quality sleep.