UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):         FEBRUARY 5, 2001


                             SELECT COMFORT CORPORATION
               (Exact name of registrant as specified in its charter)


       MINNESOTA                   0-25121                     41-1597886
(State of Incorporation)      (Commission File Number)       (IRS Employer
                                                             Identification No.)


      6105 TRENTON LANE NORTH
      MINNEAPOLIS, MINNESOTA                                     55442
(Address of principal executive offices)                       (Zip Code)



Registrant's telephone number, including area code: (763) 551-7000





<PAGE>


ITEM 5.  OTHER EVENTS.

        On February 5, 2001, the registrant issued a press release regarding its
results for the fourth quarter ended December 30, 2000, as follows:

                           SELECT COMFORT CORPORATION
                       COMMENTS ON FOURTH QUARTER RESULTS

    MINNEAPOLIS,  MINN. (February 5, 2001) - Select Comfort Corporation (NASDAQ:
SCSS)  announced that it expects to report a net loss of $0.22 per share for the
fourth  quarter ended  December 30, 2000.  The fourth  quarter  results  include
approximately   $500,000  of  non-cash  charges   associated  with  store  asset
write-downs.  The  company  expects to report  full  results for the quarter and
fiscal year during the week of February 19, 2001.

    Bill  McLaughlin,  president and chief executive  officer,  said,  "With the
weakening economy,  we experienced  softness in sales,  particularly late in the
holiday  retail  season,  when we  historically  have  benefited from heavy mall
traffic.  Although we are disappointed  with the results for the fourth quarter,
we continue to make  progress on key  initiatives  that will drive our operating
plan  for  2001.  Specifically,  we  recently  improved  our cost  structure  by
consolidating all of our corporate personnel in our Plymouth,  Minn.,  facility,
and by streamlining our selling organization.  In addition, other cost-reduction
measures taken during 2000,  including reductions in corporate staff, closure of
27  under-performing  stores,  elimination  of the South  Carolina  call center,
rebalancing  of  manufacturing   capability  and  tightening  of  discounts  and
promotional  spending,  will provide full-year  benefits in 2001. In total, cost
saving  programs  initiated since the beginning of 2000 represent an improvement
in our annual run rate of  approximately  $15 million.  We also made progress in
testing distribution  outside our company stores through successful  initiatives
with Gabberts and on QVC."

    The  company  also  announced  that it is in the process of  arranging  debt
financing to bolster working capital and to support growth initiatives for 2001.
The  company  has been  working  with a lending  source and  expects to finalize
financing in the near term.  Pat Hopf,  chairman of the Select  Comfort board of
directors and president of St. Paul Venture Capital,  which owns over 34% of the
company's  stock,  said,  "We are  encouraged  by the  company's  direction  and
progress  toward  profitability.  We  continue to support  the  company,  and we
endorse its action to secure standard working capital financing."

    In  other  news,  the  company  reported  the  launch  of a major  marketing
initiative to reposition  the company's  product,  brand and marketing  messages
around the company's SLEEP NUMBER(R) bed. This company-wide repositioning, which
includes the company's first network television advertising campaign,  began its
rollout to  initial  markets in January  and to the  company's  lead  markets in
February.

    "Strong  marketing  programs  designed  to  increase  brand  awareness,   to
highlight our unique product benefits, and to drive traffic to our retail stores
are  critical  to  Select  Comfort's  success  in 2001 and  beyond,"  said  Noel
Schenker,  senior vice  president  of marketing  and new  business  development.
"Despite our large  customer base, and  extraordinary  satisfaction  ratings and

                                       2
<PAGE>

referrals,  lack of  awareness  among the broad  consumer  audience has been our
number one barrier to sales growth.  The Sleep Number  advertising  campaign has
driven a significant  increase in awareness and store traffic in our early pilot
markets.  Consequently,  this week we are  expanding  the campaign to six of our
strongest  markets,  and have identified  other markets for subsequent  rollout.
Importantly,  this  initiative  does not  represent  an  increase  in  marketing
spending  rate,  rather a refocusing  of marketing  investment  to  broad-reach,
high-impact programs."

    In  conjunction  with the launch of the Sleep Number  campaign,  the company
announced  at a January  30 press  conference  in New York that it had  formed a
charitable  partnership  with Ronald  McDonald  Houses.  These houses serve as a
"home-away-from-home"  for  thousands of families with  critically  ill children
receiving treatment at nearby hospitals. The partnership began with the donation
of one bed to each of the 144 Ronald McDonald Houses across the country,  with a
long-term  objective to provide a bed for each Ronald  McDonald  House  bedroom,
providing all of their guests with the best night's sleep possible.

    Founded in 1987, Select Comfort Corporation is the leader in sleep solutions
technology,  holding 24 U.S.  issued or pending  patents for its  products.  The
company  designs,  manufactures and markets a line of mattresses with adjustable
firmness,  as  well as  foundations  and  sleep  accessories.  Select  Comfort's
products  are  sold  through  three  channels:  i)  330  retail  stores  located
nationwide,  including 25 leased  departments in Bed Bath & Beyond  stores,  ii)
Select Comfort's  national direct sales operations,  and iii) on the Internet at
www.selectcomfort.com.

    Statements  used in this press release that relate to future plans,  events,
financial results or performance are forward-looking statements as defined under
the Private  Securities  Litigation  Reform Act of 1995.  Actual plans,  events,
results and performance may differ materially from those anticipated as a result
of certain risks and uncertainties, including but not limited to:

o   The company's ability to create product and brand name awareness.
o   The efficiency and effectiveness of the company's marketing and advertising.
o   The ability of the company to effectively and efficiently pursue new
    channels of distribution.
o   The performance of the company's existing and new stores.
o   The ability of the company to realize the benefits of cost saving
    initiatives.
o   The levels of consumer acceptance of the company's product lines.
o   The ability of the company to continuously improve its existing product
    lines and introduce new products.
o   The ability of the company to efficiently implement nationwide home delivery
    and assembly.
o   The ability of the  company to secure  adequate  working  capital to support
    growth initiatives.
o   Economic trends and consumer confidence.
o   Industry competition.
o   The  ability of the  company to  effectively  integrate  the  operations  of
    SleepTec,  including the  maintenance  and  integration  of an effective and
    efficient supply chain for the sofa sleeper product line.
o   The  risks and  uncertainties  detailed  from time to time in the  company's
    filings with the SEC, including the company's Annual Report on Form 10-K and
    other periodic reports filed with the SEC.

                                       3
<PAGE>

    The  company  has no  obligation  to  publicly  update or revise  any of the
forward-looking statements that may be in this news release.

                                 SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                         SELECT COMFORT CORPORATION
                                         (Registrant)


Dated:  February 5, 2001                 By  /s/ Mark A. Kimball
                                         ---------------------------------------

                                         Title: Senior Vice President
                                         ---------------------------------------



                                       4
<PAGE>
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{"company-data": {"conformed-name": "SELECT COMFORT CORP", "cik": "0000827187", "assigned-sic": "2510", "irs-number": "410157886", "state-of-incorporation": "MN", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-25121", "film-number": "1525835"}, "business-address": {"street1": "6105 TRENTON LANE NORTH", "city": "MINNEAPOLIS", "state": "MN", "zip": "55442", "phone": "(763) 551-7000"}, "mail-address": {"street1": "6105 TRENTON LANE NORTH", "city": "MINNEAPOLIS", "state": "MN", "zip": "55442"}}
UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):         FEBRUARY 5, 2001

                             SELECT COMFORT CORPORATION
               (Exact name of registrant as specified in its charter)

       MINNESOTA                   0-25121                     41-1597886
(State of Incorporation)      (Commission File Number)       (IRS Employer
                                                             Identification No.)

      6105 TRENTON LANE NORTH
      MINNEAPOLIS, MINNESOTA                                     55442
(Address of principal executive offices)                       (Zip Code)

Registrant's telephone number, including area code: (763) 551-7000
ITEM 5.  OTHER EVENTS.

        On February 5, 2001, the registrant issued a press release regarding its
results for the fourth quarter ended December 30, 2000, as follows:

                           SELECT COMFORT CORPORATION
                       COMMENTS ON FOURTH QUARTER RESULTS

    MINNEAPOLIS,  MINN. (February 5, 2001) - Select Comfort Corporation (NASDAQ:
SCSS)  announced that it expects to report a net loss of $0.22 per share for the
fourth  quarter ended  December 30, 2000.  The fourth  quarter  results  include
approximately   $500,000  of  non-cash  charges   associated  with  store  asset
write-downs.  The  company  expects to report  full  results for the quarter and
fiscal year during the week of February 19, 2001.

    Bill  McLaughlin,  president and chief executive  officer,  said,  "With the
weakening economy,  we experienced  softness in sales,  particularly late in the
holiday  retail  season,  when we  historically  have  benefited from heavy mall
traffic.  Although we are disappointed  with the results for the fourth quarter,
we continue to make  progress on key  initiatives  that will drive our operating
plan  for  2001.  Specifically,  we  recently  improved  our cost  structure  by
consolidating all of our corporate personnel in our Plymouth,  Minn.,  facility,
and by streamlining our selling organization.  In addition, other cost-reduction
measures taken during 2000,  including reductions in corporate staff, closure of
27  under-performing  stores,  elimination  of the South  Carolina  call center,
rebalancing  of  manufacturing   capability  and  tightening  of  discounts  and
promotional  spending,  will provide full-year  benefits in 2001. In total, cost
saving  programs  initiated since the beginning of 2000 represent an improvement
in our annual run rate of  approximately  $15 million.  We also made progress in
testing distribution  outside our company stores through successful  initiatives
with Gabberts and on QVC."

    The  company  also  announced  that it is in the process of  arranging  debt
financing to bolster working capital and to support growth initiatives for 2001.
The  company  has been  working  with a lending  source and  expects to finalize
financing in the near term.  Pat Hopf,  chairman of the Select  Comfort board of
directors and president of St. Paul Venture Capital,  which owns over 34% of the
company's  stock,  said,  "We are  encouraged  by the  company's  direction  and
progress  toward  profitability.  We  continue to support  the  company,  and we
endorse its action to secure standard working capital financing."

    In  other  news,  the  company  reported  the  launch  of a major  marketing
initiative to reposition  the company's  product,  brand and marketing  messages
around the company's SLEEP NUMBER(R) bed. This company-wide repositioning, which
includes the company's first network television advertising campaign,  began its
rollout to  initial  markets in January  and to the  company's  lead  markets in
February.

    "Strong  marketing  programs  designed  to  increase  brand  awareness,   to
highlight our unique product benefits, and to drive traffic to our retail stores
are  critical  to  Select  Comfort's  success  in 2001 and  beyond,"  said  Noel
Schenker,  senior vice  president  of marketing  and new  business  development.
"Despite our large  customer base, and  extraordinary  satisfaction  ratings and

                                       2
referrals,  lack of  awareness  among the broad  consumer  audience has been our
number one barrier to sales growth.  The Sleep Number  advertising  campaign has
driven a significant  increase in awareness and store traffic in our early pilot
markets.  Consequently,  this week we are  expanding  the campaign to six of our
strongest  markets,  and have identified  other markets for subsequent  rollout.
Importantly,  this  initiative  does not  represent  an  increase  in  marketing
spending  rate,  rather a refocusing  of marketing  investment  to  broad-reach,
high-impact programs."

    In  conjunction  with the launch of the Sleep Number  campaign,  the company
announced  at a January  30 press  conference  in New York that it had  formed a
charitable  partnership  with Ronald  McDonald  Houses.  These houses serve as a
"home-away-from-home"  for  thousands of families with  critically  ill children
receiving treatment at nearby hospitals. The partnership began with the donation
of one bed to each of the 144 Ronald McDonald Houses across the country,  with a
long-term  objective to provide a bed for each Ronald  McDonald  House  bedroom,
providing all of their guests with the best night's sleep possible.

    Founded in 1987, Select Comfort Corporation is the leader in sleep solutions
technology,  holding 24 U.S.  issued or pending  patents for its  products.  The
company  designs,  manufactures and markets a line of mattresses with adjustable
firmness,  as  well as  foundations  and  sleep  accessories.  Select  Comfort's
products  are  sold  through  three  channels:  i)  330  retail  stores  located
nationwide,  including 25 leased  departments in Bed Bath & Beyond  stores,  ii)
Select Comfort's  national direct sales operations,  and iii) on the Internet at
www.selectcomfort.com.

    Statements  used in this press release that relate to future plans,  events,
financial results or performance are forward-looking statements as defined under
the Private  Securities  Litigation  Reform Act of 1995.  Actual plans,  events,
results and performance may differ materially from those anticipated as a result
of certain risks and uncertainties, including but not limited to:

o   The company's ability to create product and brand name awareness.
o   The efficiency and effectiveness of the company's marketing and advertising.
o   The ability of the company to effectively and efficiently pursue new
    channels of distribution.
o   The performance of the company's existing and new stores.
o   The ability of the company to realize the benefits of cost saving
    initiatives.
o   The levels of consumer acceptance of the company's product lines.
o   The ability of the company to continuously improve its existing product
    lines and introduce new products.
o   The ability of the company to efficiently implement nationwide home delivery
    and assembly.
o   The ability of the  company to secure  adequate  working  capital to support
    growth initiatives.
o   Economic trends and consumer confidence.
o   Industry competition.
o   The  ability of the  company to  effectively  integrate  the  operations  of
    SleepTec,  including the  maintenance  and  integration  of an effective and
    efficient supply chain for the sofa sleeper product line.
o   The  risks and  uncertainties  detailed  from time to time in the  company's
    filings with the SEC, including the company's Annual Report on Form 10-K and
    other periodic reports filed with the SEC.

                                       3
The  company  has no  obligation  to  publicly  update or revise  any of the
forward-looking statements that may be in this news release.

                                 SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                         SELECT COMFORT CORPORATION
                                         (Registrant)

Dated:  February 5, 2001                 By  /s/ Mark A. Kimball
                                         ---------------------------------------

                                         Title: Senior Vice President
                                         ---------------------------------------

                                       4