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Eve Sleep losses narrow by £10m in FY20

The ecommerce mattress retailer saw its revenues increase by 6%

Eve Sleep has revealed that its losses were cut by 83% from £12.1m to £2m in its full-year ended 31 December 2021, despite significant supply issues arising from the pandemic.

In the same period, the group reported a revenue increase of 6%, from £23.9m in 2019 to £25.2m in 2020, while year-on-year growth rose by 19% in the second half of the year.

So far in 2021, revenues in the first two months of the year rose by 16%, representing a rise from the last quarter of 2020, where growth was held back by supply constraints.

Cheryl Calverley, CEO of Eve Sleep, said: “Eve’s rebuild strategy is essentially complete, six months ahead of plan. We move now to accelerate our business, with a mind to leveraging our strong brand, efficient marketing, high performing products and excellent customer service to allow us to diversify across markets, channels and categories.

“But we do so carefully. Successful e-commerce businesses win through balancing growth, with customer experience and business resilience, and we will do the same.”

She added: “We seek sustainable, profitable growth and will avoid growth at any cost, and certainly to the detriment of customer experience or business resilience.

“We’re excited about the opportunities the next few years bring, and we now have a business ready to grasp those opportunities.”

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