{"id":955296,"date":"2026-04-28T08:04:30","date_gmt":"2026-04-28T12:04:30","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sleep-number-announces-amendment-to-credit-agreement\/"},"modified":"2026-04-28T08:04:30","modified_gmt":"2026-04-28T12:04:30","slug":"sleep-number-announces-amendment-to-credit-agreement","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sleep-number-announces-amendment-to-credit-agreement\/","title":{"rendered":"Sleep Number Announces Amendment to Credit Agreement"},"content":{"rendered":"

<\/p>\n

Sleep Number Announces Amendment to Credit Agreement<\/b><\/p>\n

Agreement with Existing Lenders Provides Additional $55 Million of Liquidity, Including a $25 Million Term Loan, and Relief on Certain Financial and Liquidity Covenants<\/i><\/p>\n

Company Remains Focused on New Product Rollout, New Marketing Campaign and Cost Management, while Evaluating Strategic Business Opportunities with its Advisors<\/i><\/p>\n

Performance Remains on Track with Company\u2019s 2026 First Quarter Expectations; Company to Announce First Quarter Results on May 12, 2026<\/i><\/p>\n

MINNEAPOLIS–(BUSINESS WIRE<\/a>)–
\nSleep Number (Nasdaq: SNBR) announced today that it has reached an agreement with its lenders that provides additional $55 million of liquidity, including a $25 million term loan, and relief on certain financial and liquidity covenants. The agreement enables the company to continue to execute its turnaround plan, including its product and marketing initiatives, while continuing to evaluate strategic business and financing opportunities to deliver the best value.<\/p>\n

\n\u201cWe are pleased to have reached an agreement with our lending group that provides covenant relief and incremental capital to support our new product launch and marketing plans as we enter the Memorial Day selling season,\u201d said Amy O\u2019Keefe, Sleep Number\u2019s CFO. \u201cAs we noted on our last earnings call, we remain focused on a long-term solution for our capital structure.\u201d<\/p>\n

New Product and Marketing Gains Momentum
\n
<\/span><\/b>As Sleep Number continues to prioritize resetting its capital structure, the company is executing the rollout of its new product portfolio and marketing campaign.<\/p>\n

\nEarlier this year, Sleep Number introduced its largest product reset<\/a> in nearly a decade, beginning with the launch of ComfortMode in late January and followed by the refresh of the broader portfolio in late March. The company has also rolled out new marketing creative, including its first major integrated campaign in several years, which launched this morning.<\/p>\n

\n\u201cWhile it is still early, we are happy with the customer response to the new beds and the performance of our new marketing creative, which gives me confidence in the progress against our turnaround plan,\u201d said Linda Findley, Sleep Number\u2019s President and CEO. \u201cWe are seeing early signs of positive customer reviews and improved Net Promoter Score for ComfortMode. In addition, performance for the quarter is in line with our expectations as disclosed on our last earnings call. We look forward to discussing quarter results on our upcoming call.\u201d<\/p>\n

\nIn addition, recent consumer research underscores the impact of Sleep Number\u2019s new product line, reinforcing the company\u2019s focus on delivering measurable improvements in sleep quality through individualized comfort and support. When switching to a Sleep Number mattress, 9 in 10 people slept better,1<\/sup> 8 in 10 people got more sleep1 <\/sup>and 8 in 10 people experienced less pain.2<\/sup><\/p>\n

Terms of the Covenant Relief and Additional Financing
\n
<\/span><\/b>The agreement includes a new $25 million term loan that accrues interest at a rate per annum equal to one-month term SOFR plus 8% and matures on June 30, 2026. The agreement also provides certain covenant relief, including a waiver of the $30 million minimum liquidity covenant until the first week ending after July 1, 2026 and forbearance by existing lenders from exercising rights and remedies with respect to other financial covenants. In addition, the agreement includes certain milestones related to Sleep Number\u2019s efforts to finalize a strategic transaction that maximizes enterprise value and provides payment in full of the obligations owed to its lenders. Additional details regarding the agreement, including the terms of the new term loan and related covenant relief, are available in the company\u2019s Current Report on Form 8-K filed with the Securities and Exchange Commission.<\/p>\n

First Quarter 2026 Earnings Date
\n
<\/span><\/b>Sleep Number will release its fiscal first quarter results through April 4, 2026, before market open on Tuesday, May 12, 2026. Management will host its regularly scheduled conference call to discuss the company\u2019s results at 8:30 a.m. EDT (7:30 a.m. CDT; 5:30 a.m. PDT).<\/p>\n

\nTo access the webcast, please visit the investor relations area of the Sleep Number website at ir.sleepnumber.com<\/a>. The webcast replay will remain available for approximately 60 days.<\/p>\n\n\n\n
\n

1<\/sup> Survey results from a 2026 study with subjects sleeping on a Sleep Number\u00ae mattress for 4-weeks compared to their original mattress.<\/p>\n<\/td>\n<\/tr>\n

\n

2<\/sup> Survey results from a 2026 study where 78% of subjects reported experiencing pain improvement after sleeping on a Sleep Number\u00ae mattress for 4 weeks compared to their original mattress.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

About Sleep Number Corporation<\/b><\/p>\n

Sleep Number\u00ae<\/sup><\/a> is the leader in personalized sleep wellness. Its mattresses are designed to evolve with each sleeper to help them feel and perform their best. With adjustable firmness, pressure-relieving support and temperature balancing comfort built into every mattress, Sleep Number beds adapt to customers\u2019 changing needs, night after night, year after year.<\/p>\n

\nBacked by almost 40 years of innovation, 1,000+ patents and patents pending, and billions of hours of sleep data, Sleep Number has helped more than 16 million people achieve their best sleep. The fully integrated model ensures quality, durability, and care at every step\u2014from design and craftsmanship to delivery and long-term support.<\/p>\n

\nSleep Number products are awarded the industry’s top recognitions, including ranked #1 in customer satisfaction for mattresses purchased in-store and online, and #1 in comfort, by J.D. Power. In addition, the company is the Official Sleep + Wellness Partner of the NFL, marking a relationship that leverages players, team partnerships, and league-wide initiatives to amplify brand awareness and drive consumer engagement.<\/p>\n

\nSleep Number mattresses, bases, bedding and furniture are available exclusively at its 600 stores nationwide and online. To learn more, visit SleepNumber.com<\/a> or a store near you<\/a>.<\/p>\n

Forward-looking Statement<\/b><\/p>\n

\nStatements used in this news release relating to future plans, events, financial results or performance, such as the statements that: the company remains focused on new product rollout, new marketing campaign and cost management, while evaluating strategic business opportunities with its advisors; the agreement with the company\u2019s lenders enables it to continue executing its turnaround plan; the company continues to prioritize resetting its capital structure; the early customer response to the new beds and the performance of the company\u2019s new marketing creative gives confidence in the company\u2019s progress against its turnaround plan; and performance for the quarter is in line with expectations and as disclosed on our last earnings call. The most important risks and uncertainties are described in the company\u2019s filings with the Securities and Exchange Commission, including in Item 1A of the company\u2019s Annual Report on Form 10-K and other periodic reports. Forward-looking statements speak only as of the date they are made, and the company does not undertake any obligation to update any forward-looking statement.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260427595544\/en\/<\/a><\/span><\/p>\n

Investor Contact
\n<\/b>
investorrelations@sleepnumber.com<\/a><\/p>\n

Media Contact
\n
<\/b>Muriel Lussier, Sleep Number Communications
\n
muriel.lussier@sleepnumber.com<\/a><\/p>\n

KEYWORDS:<\/b> Minnesota United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Interior Design Online Retail Retail Luxury Home Goods Construction & Property<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Sleep Number Announces Amendment to Credit Agreement Agreement with Existing Lenders Provides Additional $55 Million of Liquidity, Including a $25 Million Term Loan, and Relief on Certain Financial and Liquidity Covenants Company Remains Focused on New Product Rollout, New Marketing Campaign and Cost Management, while Evaluating Strategic Business Opportunities with its Advisors Performance Remains on Track with Company\u2019s 2026 First Quarter Expectations; Company to Announce First Quarter Results on May 12, 2026 MINNEAPOLIS–(BUSINESS WIRE)– Sleep Number (Nasdaq: SNBR) announced today that it has reached an agreement with its lenders that provides additional $55 million of liquidity, including a $25 million term loan, and relief on certain financial and liquidity covenants. The agreement enables the company to continue to execute its … <\/p>\n

Continue reading “Sleep Number Announces Amendment to Credit Agreement”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-955296","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSleep Number Announces Amendment to Credit Agreement - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sleep-number-announces-amendment-to-credit-agreement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sleep Number Announces Amendment to Credit Agreement - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Sleep Number Announces Amendment to Credit Agreement Agreement with Existing Lenders Provides Additional $55 Million of Liquidity, Including a $25 Million Term Loan, and Relief on Certain Financial and Liquidity Covenants Company Remains Focused on New Product Rollout, New Marketing Campaign and Cost Management, while Evaluating Strategic Business Opportunities with its Advisors Performance Remains on Track with Company\u2019s 2026 First Quarter Expectations; Company to Announce First Quarter Results on May 12, 2026 MINNEAPOLIS–(BUSINESS WIRE)– Sleep Number (Nasdaq: SNBR) announced today that it has reached an agreement with its lenders that provides additional $55 million of liquidity, including a $25 million term loan, and relief on certain financial and liquidity covenants. 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