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):         NOVEMBER 10, 2000


                          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 2.  ACQUISITION OR DISPOSITION OF ASSETS.

On  November  10,  2000,  Select  Comfort  Corporation  (the  "Company"  or  the
"Registrant") acquired substantially all of the business and assets of SleepTec,
Inc.,  a Delaware  corporation  ("SleepTec").  SleepTec  has been engaged in the
business of  manufacturing,  selling and  distributing  innovative sofa sleepers
with air supported  sleep surfaces  primarily in the United States.  The Company
intends to continue to devote the assets  acquired from SleepTec in  furtherance
of such  business.  The assets of SleepTec  acquired by the  Registrant  include
certain manufacturing tools, equipment and supplies,  inventories,  intellectual
property rights and contractual  rights. The aggregate purchase price payable by
the Company for the assets of  SleepTec  consists of (i) a  non-interest-bearing
subordinated   convertible   debenture  in  the  original  principal  amount  of
$4,000,000, due November 10, 2005 and convertible at any time into shares of the
Company's  common stock at the rate of $5.50 per share of common stock; and (ii)
$400,000 in cash. In addition, the Company agreed to fund approximately $250,000
in a combination  of cash and equity (in the form of options to purchase  shares
of the  Company's  common  stock)  payments to current and former  employees  of
SleepTec for transition services and severance compensation.  The purchase price
was  determined  through  arm's-length  negotiations  between  the  Company  and
representatives  of SleepTec based primarily upon the past and projected  future
stream of earnings of the SleepTec  operations.  The source of the funds used to
pay the purchase price was cash on hand at the Company.

The  Company is a minoruty  shareholder  in  SleepTec.  Affiliates  of St.  Paul
Venture  Capital,  Inc.  own a  majority  of the  outstanding  capital  stock of
SleepTec. Patrick A. Hopf, a director and the Chairman of the Board of Directors
of the Company is the President of St. Paul Venture  Capital,  Inc. and a member
of the Board of Directors of SleepTec.



                                       2
<PAGE>


Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
        ------------------------------------------------------------------

a.      Financial statements of business acquired.
        -----------------------------------------

It is  impracticable  at this time to provide the financial  statements  for the
most recent fiscal year of SleepTec.  Such financial statements will be filed by
amendment  to this Form 8-K as soon as  practicable,  and not later than 60 days
after the date that this Report is required to be filed.

b.      Pro forma financial information.
        -------------------------------

It is  impracticable  at this time to provide the required  pro forma  financial
information.  Such financial information will be filed by amendment to this Form
8-K as soon as practicable,  and not later than 60 days after the date that this
Report is required to be filed.

c.      Exhibits.
        --------

        2.1    Asset Purchase  Agreement  dated as of November 10, 2000,  among
               SleepTec,  Inc., St. Paul  Venture  Capital  IV,  LLC,  St. Paul
               Venture  Capital V, LLC,  St. Paul Venture  Capital  VI, LLC and
               Select  Comfort  Corporation.  Omitted  from this Agreement,  as
               filed, are the exhibits and schedules listed in the index of the
               exhibits  and  schedules  at the  end of the  Agreement.  The
               Registrant  will furnish  supplementally  a copy of any such
               omitted  exhibits to the Commission upon request.

        4.1    Convertible Subordinated Debenture dated as of November 10, 2000,
               before Select Comfort Corporation and SleepTec, Inc.



                                       3
<PAGE>


                                   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:  November 22, 2000              By /s/ Mark A. Kimball
                                         ---------------------------------------

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








                                       4
<PAGE>
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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):         NOVEMBER 10, 2000

                          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 2.  ACQUISITION OR DISPOSITION OF ASSETS.

On  November  10,  2000,  Select  Comfort  Corporation  (the  "Company"  or  the
"Registrant") acquired substantially all of the business and assets of SleepTec,
Inc.,  a Delaware  corporation  ("SleepTec").  SleepTec  has been engaged in the
business of  manufacturing,  selling and  distributing  innovative sofa sleepers
with air supported  sleep surfaces  primarily in the United States.  The Company
intends to continue to devote the assets  acquired from SleepTec in  furtherance
of such  business.  The assets of SleepTec  acquired by the  Registrant  include
certain manufacturing tools, equipment and supplies,  inventories,  intellectual
property rights and contractual  rights. The aggregate purchase price payable by
the Company for the assets of  SleepTec  consists of (i) a  non-interest-bearing
subordinated   convertible   debenture  in  the  original  principal  amount  of
$4,000,000, due November 10, 2005 and convertible at any time into shares of the
Company's  common stock at the rate of $5.50 per share of common stock; and (ii)
$400,000 in cash. In addition, the Company agreed to fund approximately $250,000
in a combination  of cash and equity (in the form of options to purchase  shares
of the  Company's  common  stock)  payments to current and former  employees  of
SleepTec for transition services and severance compensation.  The purchase price
was  determined  through  arm's-length  negotiations  between  the  Company  and
representatives  of SleepTec based primarily upon the past and projected  future
stream of earnings of the SleepTec  operations.  The source of the funds used to
pay the purchase price was cash on hand at the Company.

The  Company is a minoruty  shareholder  in  SleepTec.  Affiliates  of St.  Paul
Venture  Capital,  Inc.  own a  majority  of the  outstanding  capital  stock of
SleepTec. Patrick A. Hopf, a director and the Chairman of the Board of Directors
of the Company is the President of St. Paul Venture  Capital,  Inc. and a member
of the Board of Directors of SleepTec.

                                       2
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
        ------------------------------------------------------------------

a.      Financial statements of business acquired.
        -----------------------------------------

It is  impracticable  at this time to provide the financial  statements  for the
most recent fiscal year of SleepTec.  Such financial statements will be filed by
amendment  to this Form 8-K as soon as  practicable,  and not later than 60 days
after the date that this Report is required to be filed.

b.      Pro forma financial information.
        -------------------------------

It is  impracticable  at this time to provide the required  pro forma  financial
information.  Such financial information will be filed by amendment to this Form
8-K as soon as practicable,  and not later than 60 days after the date that this
Report is required to be filed.

c.      Exhibits.
        --------

        2.1    Asset Purchase  Agreement  dated as of November 10, 2000,  among
               SleepTec,  Inc., St. Paul  Venture  Capital  IV,  LLC,  St. Paul
               Venture  Capital V, LLC,  St. Paul Venture  Capital  VI, LLC and
               Select  Comfort  Corporation.  Omitted  from this Agreement,  as
               filed, are the exhibits and schedules listed in the index of the
               exhibits  and  schedules  at the  end of the  Agreement.  The
               Registrant  will furnish  supplementally  a copy of any such
               omitted  exhibits to the Commission upon request.

        4.1    Convertible Subordinated Debenture dated as of November 10, 2000,
               before Select Comfort Corporation and SleepTec, Inc.

                                       3
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:  November 22, 2000              By /s/ Mark A. Kimball
                                         ---------------------------------------

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

                                       4