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Sleep Number (SNBR) Unveils My Sleep Health, Boosts Technology

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In a bid to improve the health and wellbeing of the society through higher quality sleep, Sleep Number Corporation (SNBR - Free Report) launched the newest Sleep Number 360 smart bed feature — My Sleep Health.

The newest technology’s data-driven insights along with the brand’s other features like effortless adjustability, temperature balancing sleep surface, Circadian Rhythm Insights, nighttime Heart Rate Variability, My Daytime Alertness and monthly HealthIQ Wellness Reports will provide actionable and personalized recommendations based on three contributing factors to quality sleep — duration, efficiency as well as timing. This will help individuals achieve the proven quality sleep they need to support their health.

Annie Bloomquist, Chief Innovation Officer of Sleep Number, said, "By helping people understand the important impacts of duration, efficiency and timing – all of which were proven by Dr. Buysse to dramatically affect sleep quality – we are empowering our sleepers to improve their sleep."

This innovation leader in sleep health, science and research has leveraged and learned from more than 11 billion hours of sleep data collected from 1.4 billion plus sleep sessions, generating comprehensive, longitudinal data at scale.

The company has been leveraging the potential of research and technology to advance sleep health and science as well as develop new products, services and synergistic interactions. Sleep Number — which shares space with Bassett Furniture Industries, Incorporated (BSET - Free Report) , WillScot Mobile Mini Holdings Corp. (WSC - Free Report) and Leggett & Platt, Incorporated (LEG - Free Report) in the Zacks Furniture industry — offers consumers high-quality, individualized sleep solutions as well as services.

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For second-quarter 2021, research and development expenses increased 93% year over year as it continued to prioritize on long-term innovation initiatives.

Backed by its innovative technology, net sales for the second quarter increased a whopping 70% from the prior year and 36% from the second-quarter 2019 level. Earnings also grew more than 95% for the second quarter from the year-ago period.

Supported by these tailwinds, 2021 earnings are likely to be at least $7.25 per share, up 58% from the year-ago number — excluding the impact of the 53rd week — and nearly three times from the 2019 level.

Over the past year, this Zacks Rank #2 (Buy) company’s shares have gained 86% compared with the industry’s 20.3% rally. The uptrend is likely to continue, given solid technology advancement and upbeat view. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.