Online retailer Eve Sleep has reduced annual losses and said its recovery programme is ahead of schedule. 

The bedding specialist cut statutory losses by 83% to £2m last year, when sales rose 6% to £25.2m and gross margin improved following a focus on profitable sales.

The retailer reported that performance in the year to December 31, 2020, was ahead of expectations and that its rebuild strategy was “essentially complete”.

Eve Sleep chair Paul Pindar acknowledged that the consumer switch to online during the pandemic and the strength of the overall homewares market during lockdown had ”provided tailwinds”.

However, he added that Eve had also acted to ensure a “more resilient and efficient technology, logistics and operational platform for future growth”, and had expanded its ranges and distribution.

Chief executive Cheryl Calverley 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 ecommerce businesses win through balancing growth with customer experience and business resilience, and we will do the same.

“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.”