Eve Sleep has broken even for the first time during the fourth quarter of its financial year as it remained on track to slash losses.
The online mattress retailer said it made “significant further cost reductions” during the quarter ending December 31, 2019 to break even at an operating level.
Eve insisted that “trading in the last four months of the year is more indicative of its prospects for 2020”.
The etailer said moves to prioritise long-term profitability over short-term sales growth by carrying out “more efficient” marketing, targeting “higher quality” website traffic and streamlining its cost base have slashed EBITDA losses by £10.8m – or 43% – across the year.
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