Eve Sleep halves losses as sales continue to fall

Eve

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.

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