By Leanne Carr2019-07-18T06:50:00
Eve Sleep has reduced its underlying EBITDA losses but continued to struggle against a “backdrop of substantial retail headwinds” as sales fell.
Eve Sleep posted a 0.9% dip in its UK and Ireland sales and a 29% drop in sales in its French division during the six months to June 30. Group underlying revenue for the same period decreased by 8% to £12.9m.
However, the mattress-in-a-box retailer cut its underlying EBITDA losses by 50% to £5.9m, which it attributed to “the refocus on just three markets, greater marketing efficiency and a reduction in overheads”.
The online retailer is expecting to return to growth in the second half of its financial year following the launch of new marketing campaigns and three new retail partnerships.
Please sign in now if you have a subscription
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.