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Stock Market & Financial Investment News

News For SCSS From The Last 14 Days
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May 12, 2015
08:32 EDTSCSSBlue Clay withdraws slate of nominees for election to Select Comfort board
Blue Clay issued an open letter to shareholders of Select Comfort announcing that, in recognition of the company's progress in implementing Blue Clay's recommended actions, Blue Clay has determined to withdraw its slate of two director nominees for election to the Board of Directors of the Company at its upcoming 2015 annual meeting. In the letter, Blue Clay commented, "Since we submitted our nominations on December 4, 2014, as the Board and management began implementing our recommended changes and supported the stock with increased share repurchases and investor communication, the Company's stock price has increased by 21.9%. As long-term holders, we are hopeful the Company will continue to make changes that benefit shareholders. Specifically, we hope that the Company will move to open the four remaining markets previously identified by management to be developed by 2014, close the significant gap to historical margin guidance, and further improve capital allocation by returning more cash to shareholders and reducing annual capital expenditures to focus on new store growth once the ERP and store remodel and relocation program are concluded later this year. In recognition of the company moving in the overall direction of our recommendations, we are withdrawing our slate of two director nominees for election to the Board at this year's annual shareholders meeting."
May 11, 2015
07:06 EDTSCSSSelect Comfort says proxy advisory firms recommend investors vote for nominees
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