Sleep Number

Sleep Number Corporation is the US specialty mattress and smart-bed retailer listed on NASDAQ under SNBR and headquartered in Minneapolis, Minnesota. The company operates a vertically integrated model combining proprietary product design, in-house manufacturing across US facilities, and a directly operated specialty retail network, with no controlling shareholder and a broad institutional and retail shareholder base.

Founded in 1987 in Minneapolis by Bob and Joe Walker as Comfortaire before rebranding through Select Comfort to Sleep Number Corporation in 2017, the company built its market position around the air-chamber adjustable mattress technology that allows independent firmness adjustment for each sleeper. The defining product evolution moved beyond pure air-chamber technology into the Sleep Number 360 smart bed, which integrates biometric sleep tracking, automatic firmness adjustment based on sleep position, temperature management through climate-controlled bedding, and the SleepIQ data platform that delivers personalized sleep insights through a connected mobile application. Sleep Number reported total revenue of approximately $1.7 billion in fiscal year 2024, with continued operational pressure from the broader mattress-category contraction and competition from direct-to-consumer mattress competitors. Linda Findley, previously CEO of Blue Apron, was named CEO of Sleep Number effective April 7, 2025, succeeding Shelly Ibach who had led the company since 2012. Strategic emphasis centers on the brand’s specialty retail positioning, climate-controlled bedding accessories, and the broader connected-sleep ecosystem development.

Sleep Number operates approximately 640 stores across the United States as of fiscal year-end 2024, with the strongest density in regional shopping centers, lifestyle centers, and standalone destinations across all 50 states. The typical Sleep Number store occupies 2,500 to 4,500 square feet, designed around the brand’s signature bed-trial environment including multiple Sleep Number model displays, SleepIQ scoring demonstrations, and dedicated consultation rooms for personalized bed-fitting sessions. For mall operators, Sleep Number is a Class A and Class B+ specialty home tenant for regional and super-regional centers, lifestyle centers, and select power center positions. The trial-based selling model produces longer dwell times than most specialty retail, with co-tenancy strength alongside furniture, home, and broader lifestyle retail rather than fashion-and-accessories adjacencies.