June 28, 2019 David Callen Senior Vice President and Chief Financial Officer Sleep Number Corporation 1001 Third Avenue South Minneapolis, Minnesota 55404 Re: Sleep Number Corporation Form 10-Q for Fiscal Quarter Ended March 31, 2019 Filed April 26, 2019 File No. 000-25121 Dear Mr. Callen: We have reviewed your filing and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Form 10-Q for Fiscal Quarter Ended March 31, 2019 Management's Discussion and Analysis of Financial Condition and Results of Operations Non-GAAP Data, page 18 1. We note you include adjustments in arriving at net operating profit after taxes that appear to remove your operating lease rent expense under GAAP and replace it with estimated depreciation and include lease adjustments in arriving at average invested capital. Please tell us your basis for including each of these adjustments, how you determined the amount of these adjustments, how the adoption of ASC 842 was considered for continuing to present these adjustments and how your presentation complies with the guidance in Question 100.04 of the Non-GAAP Financial Measures Compliance and Disclosure Interpretations. This issue also applies to your earnings release included in Form 8-K filed on April 17, 2019. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of David Callen Sleep Number Corporation June 28, 2019 Page 2 action by the staff. You may contact Tracie Mariner, Staff Accountant, at (202) 551-3744, or Melissa Rocha, Senior Assistant Chief Accountant, at (202) 551-3854, if you have questions regarding comments on the financial statements and related matters. Sincerely, FirstName LastNameDavid Callen Division of Corporation Finance Comapany NameSleep Number Corporation Office of Manufacturing and June 28, 2019 Page 2 Construction FirstName LastName