Select Comfort stock bounces up on surprising profits

I wonder if Select Comfort execs were jumping up and down in the showroom Thursday afternoon?

The company’s stock bounced up 6 percent after the bed retailer announced profits more than double what analysts forecasted.

CEO Bill McLaughlin credited the third-quarter improvement to a focus on controlling costs, building its brand and preserving cash. Expect conservative management to continue.

“While our business has begun to stabilize and we’re beginning to experience its longer-term potential, economic and market conditions remain uncertain,” McLaughlin said in the company’s statement.

See also: A transcript of the company’s earnings call. (via Seeking Alpha)

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