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What: Shares of Select Comfort (NASDAQ:SNBR) plummeted 15% today after the specialty mattress retailer warned that it experienced worse-than-expected sales in February.

So what: The disappointing news reinforces serious concerns over the headwinds facing Select Comfort and its growth prospects going forward. While the company is certainly healthier than it was a few years ago, still-subdued consumer spending, coupled with increasingly intense competition from the likes of Mattress Firm Holding (NASDAQ: MFRM) and Tempur-Pedic International (NYSE:TPX), continues to weigh heavily on results.

Now what: Due to the weakness in February, management thinks it will likely miss its internal goals for the first quarter. "We believe this is a short-term issue associated with accelerated changes made to our media-buying strategy, and we are making the necessary corrections to both media buying and near-term expenses," said CEO Shelly Ibach. "We remain confident in our growth formula and are committed to our strategy of delivering an unparalleled sleep experience for our customers." With the stock hitting a new 52-week low today and trading at a forward P/E of 8, buying into that turnaround talk might even be worth considering.

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