Sleep Number Corporation Overview
Pro stress-test →Sleep Number designs, manufactures, markets, distributes, retails, and services sleep solutions including smart beds, adjustable bases, pillows, sheets, and other bedding products. The company sells products direct-to-consumer through retail stores, online, phone, and chat. However, the company faces severe distress: on June 12, 2026, Sleep Number filed a voluntary petition for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York.
Strategic Profile
Pro stress-test →In June 2026, Sleep Number entered into an agreement to combine with Sleep Country Canada to create a leading North American mattress and bedding company. Sleep Country Canada agreed to purchase substantially all of Sleep Number's assets for $415 million in cash and assumption of certain liabilities, subject to purchase price adjustments. The company is executing a turnaround strategy involving new product launches and marketing campaigns while undergoing structured bankruptcy proceedings.
Competitive Landscape
Pro stress-test →Sleep Number faces competition from traditional bedding retailers including Tempur Sealy, Select Comfort legacy competitors, and direct-to-consumer mattress brands like Casper and Helix. The premium smart-bed segment competes against other adjustable mattress providers. The company's market position has deteriorated significantly in advance of its Chapter 11 filing.
Industry Context
Sleep Number Corporation operates in Smart mattresses and adjustable beds.
Key facts
Founded: 1987 · Headquarters: Minneapolis, Minnesota · Employees: N/A · Revenue: $319M (Q1 2026) · Market cap: N/A