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November 15, 2012
07:36 EDTSCSSSelect Comfort shares should be bought on weakness, says Stifel Nicolaus
After meeting with Select Comfort's management, Stifel Nicolaus believes that the company's initiatives are growing its revenues and helping the company cope effectively with the challenges facing the specialty bedding segment of the mattress industry. The firm maintains a $42 target and Buy rating on the stock.
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April 1, 2015
09:05 EDTSCSSBlue Clay sends open letter to shareholders of Select Comfort
Blue Clay Capital Management issued an open letter to shareholders of Select Comfort urging them to elect Blue Clay's two nominees, Brian Spaly and Adam Wright, to the company's board at the upcoming 2015 Annual Meeting. In the letter, Blue Clay said, "A review of the Company's repeated swings and misses on its performance goals reveals how management and the Board have severely damaged their credibility with investors and impaired shareholder value... In addition, the Company has utterly failed to impose much needed discipline on corporate spending, resulting in declining operating income and margins... We find it curious how, prior to our nomination of our two highly-qualified candidates, the company's senior management would not even speak with us, yet once we submitted our nominations in December 2014, its shareholder engagement policy appeared to change overnight... All shareholders should have deep concerns with the company's financial performance; the company's recent maneuvers do not nearly go far enough to address the serious issues facing the company. In our view, the Board needs to take immediate, substantive action to implement the following growth plan centered around the aggressive expansion of the company's store base. We believe these strategic initiatives should enable the company to leverage its overhead, infrastructure and existing nationwide advertising program, resulting in vastly improved margins, EPS and ROIC."
March 31, 2015
09:21 EDTSCSSSelect Comfort issues letter over Blue Clay proxy, sees doubling EPS by 2019
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