-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Fc+D164cKOeZgJvejTRcmsm/vsxyj9Qz8fzkBIFDbHlpeG6pYu7dnXWzrhQ9Lexd YXhgbK5TL/J9O7l5QzMSsQ== 0000827187-05-000020.txt : 20050411 0000827187-05-000020.hdr.sgml : 20050411 20050411083114 ACCESSION NUMBER: 0000827187-05-000020 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050411 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20050411 DATE AS OF CHANGE: 20050411 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SELECT COMFORT CORP CENTRAL INDEX KEY: 0000827187 STANDARD INDUSTRIAL CLASSIFICATION: HOUSEHOLD FURNITURE [2510] IRS NUMBER: 411597886 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25121 FILM NUMBER: 05742840 BUSINESS ADDRESS: STREET 1: 6105 TRENTON LANE NORTH CITY: MINNEAPOLIS STATE: MN ZIP: 55442 BUSINESS PHONE: 7635517000 MAIL ADDRESS: STREET 1: 6105 TRENTON LANE NORTH CITY: MINNEAPOLIS STATE: MN ZIP: 55442 8-K 1 pr041105bbb.txt PRESS RELEASE - BBB UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): APRIL 11, 2005 SELECT COMFORT CORPORATION (Exact name of registrant as specified in its charter) MINNESOTA (State or other jurisdiction of incorporation or organization) 0-25121 41-1597886 (Commission File No.) (IRS Employer Identification No.) 6105 Trenton Lane North, Minneapolis, Minnesota 55442 ----------------------------------------------------- (Address of principal executive offices) (Zip Code) (763) 551-7000 -------------- (Registrant's telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 7.01. REGULATION FD DISCLOSURE On April 11, 2005, Select Comfort Corporation announced that it has reached an agreement with Bed, Bath & Beyond to discontinue the leased department program, which currently includes nine retail stores. Select Comfort will phase out and close these departments in the second quarter of 2005. A copy of the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K. SIGNATURE --------- Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SELECT COMFORT CORPORATION (Registrant) Dated: April 11, 2005 By: /s/ Mark A. Kimball ---------------------------- Title: Senior Vice President ------------------------- INDEX TO EXHIBITS The exhibit listed in this index is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed "filed" for purposes of the Securities Exchange Act of 1934, as amended, or incorporated by reference into any document filed under the Securities Act of 1933, as amended, or under the Securities Exchange Act of 1934, as amended, except as otherwise expressly stated in any such filing. Exhibit No. Description of Exhibit - ----------- ---------------------- 99.1 Press Release dated April 11, 2005 2 EX-99 2 ex991041105bbb.txt EXHIBIT 99.1 BBB EXHIBIT 99.1 FOR IMMEDIATE RELEASE CONTACT: Tammy Nystuen (763) 551-7496 Select Comfort Corporation tamara.nystuen@selectcomfort.com SELECT COMFORT REACHES AGREEMENT TO CLOSE LEASED DEPARTMENTS AT BED, BATH & BEYOND STORES MINNEAPOLIS - (April 11, 2005) - Select Comfort Corporation (NASDAQ: SCSS), the nation's leading bed retailer and creator of the Sleep Number(R) bed, today announced that it has reached an agreement with Bed, Bath & Beyond to discontinue the leased department program, which currently includes nine retail stores. Select Comfort will phase out and close these departments in the second quarter of 2005. "The leased department program with Bed, Bath & Beyond was an early element in our distribution strategies, and the relationship has been beneficial for both companies over the past five years," said Keith Spurgeon, senior vice president and general manager, Select Comfort. "However, upon further review of Select Comfort's long-term sales goals, a mutual decision was made to discontinue the relationship. Sales in our leased department locations represented approximately 1 percent of sales in 2004, and we do not anticipate these closings will have an impact on earnings moving forward. Our distribution expansion plans are on track to open up to 40 new stores in 2005, and we expect to end the year with between 390 and 395 stores." ABOUT SELECT COMFORT Founded in 1987, Select Comfort Corporation is the nation's leading bed retailer(1), holding 32 U.S. issued or pending patents for its personalized sleep products. The company designs, manufactures and markets a line of adjustable-firmness mattresses featuring air-chamber technology, branded the Sleep Number(R) bed, as well as foundations and sleep accessories. Select Comfort's products are sold through its 370 retail stores located nationwide, through selected bedding retailers; through its national direct marketing operations; and on the Internet at www.selectcomfort.com. ### (1) TOP 25 BEDDING RETAILERS, FURNITURE TODAY, MAY 24, 2004. 1 Statements used in this press release that relate to future plans, events, financial results or performance are forward-looking statements that are subject to certain risks and uncertainties including, among others, such factors as general and industry economic trends; uncertainties arising from global events, consumer confidence, effectiveness of our advertising and promotional efforts; our ability to secure suitable retail locations; our ability to attract and retain qualified sales professionals and other key employees; consumer acceptance of our products, product quality, innovation and brand image; our ability to continue to expand and improve our product line; industry competition; warranty expenses; the outcome of pending litigation, including consumer class action litigation; our dependence on significant suppliers, and the vulnerability of any suppliers to inflationary pressures, labor negotiations, liquidity concerns or other factors; rising commodity costs; and increasing government regulations, including new flammability standards for the bedding industry. Additional information concerning these and other risks and uncertainties is contained in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, and other periodic reports filed with the SEC. The company has no obligation to publicly update or revise any of the forward-looking statements that may be in this news release. 2 -----END PRIVACY-ENHANCED MESSAGE-----