THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
The Papers
Retail Solutions
Food & Drink
Interviews
Property
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Eve Sleep reports increased losses

Eve Sleep has reported having a “tough” year in 2018 which resulted in the company making a statutory pre-tax loss of £20.3 million.

HOME & DIY

Eve Sleep reports increased losses

Eve Sleep has reported having a “tough” year in 2018 which resulted in the company making a statutory pre-tax loss of £20.3 million.

In the 12 months to 31 December, revenue increased by 25% to £34.8 million but group underlying EBITDA losses rose to £19.2 million from £15.1 million in the previous year.

With the performance falling short of its board’s expectations, Eve Sleep has carried out a full review under the leadership of new chief executive James Sturrock. This has led to the implementation of a “rebuild strategy” that includes setting out a differentiated brand positioning, expanding the product range, and developing a “lower friction” customer experience.

Sturrock said: "We have made some good early progress with our rebuild strategy and have secured the funds to execute on it. As part of our pathway to profitability plan, we have taken decisive action on our cost base, including a significant reduction in administrative expenses compared to 2018 along with a refocused and reduced marketing investment strategy removing inefficient activity. When combined with the expected benefits of our rebuild strategy, we anticipate a significant reduction in losses in 2019."

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Conference
The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
The 11th HR Summit 2019, Hallam Conference Centre, 44 Hallam St, Marylebone, London W1W 6JJ
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy