Sleep Number (SNBR) 28th Annual ICR Conference 2026 summary

Leadership and transformation

• New CEO with a background in tech-enabled consumer turnarounds joined in April 2025, bringing experience from Blue Apron, Etsy, Evernote, and Alibaba.

• Focused on transforming the company into a high-growth, high-profit organization leveraging strong brand and product differentiation.

• Significant management changes: new CMO, new CFO, and reorganization to balance institutional knowledge with fresh thinking.

Cost structure and operational efficiency

• $135 million in costs removed, primarily from fixed costs, G&A, and corporate structure, with further strategic savings planned.

• Store footprint reviewed for optimization, with a likely slight reduction and relocations to maximize sales and efficiency.

• Marketing spend cut by nearly 30% in Q2 and Q3, then stabilized and partially restored for efficiency and growth.

Product innovation and customer focus

• Launched a new entry-level bed at $1,599, offering premium features without requiring an app, targeting value-conscious and new customers.

• Introduced a zero-clearance base and highlighted premium Climate Series beds with active cooling.

• Product development cycle accelerated from two years to nine months due to increased organizational agility.