Sleep Number Corporation revised earnings guidance for the year 2023. The company updated its full-year 2023 diluted EPS outlook to a range of $1.25 to $1.75. The 2023 outlook assumes net sales are down low to mid-single digits versus the prior year and gross margin improvement of more than 150 basis points versus 2022.

The company expects to generate more than $100 million of operating cash flow for the year and positive free cash flows.