High Street

Eve Sleep revenue rises 13% in H1

The growth was primarily seen through online sales, with a softer performance from retail partners, which reflected lockdown restrictions over the first quarter

Eve Sleep has announced that for the six months ended 30 June 2021, group revenue increased 13% to £13.9m, up from £12.2m the previous year.

The growth was primarily seen through its online sales, with a “softer” performance from retail partners, reflecting lockdown restrictions over the first quarter as well as a “permanence of channel shift” to e-commerce.

Overseas, French revenues decreased year-on-year by 8%, as a result of “minimal” marketing investment in Q1 ahead of the new TV campaign, “La vie en jaune”, which was launched in May 2021.

Due to the group’s marketing contribution, the retailer is now expecting its EBITDA losses to be in line with its management’s expectations.

Cheryl Calverley, CEO of Eve Sleep, said: “Our UK business is up 15% on pre pandemic revenue levels reported in H1 of 2019. The balance across sales channels has shifted somewhat, but the overall business is in good health.

“The start of our investment programme in France has been very encouraging, and we look forward to seeing this campaign power our business performance over the next two years, replicating the progress we have seen in the UK.”

She added: “The decisions we have taken to improve the resilience of our business through increasing our stock holding and investing in our operational and people capability have undoubtedly underpinned the good H1 performance. We enter the second half of the year with confidence.”

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