Home Business News Eve Sleep profit losses widened to £20m

Eve Sleep profit losses widened to £20m

by LLB Reporter
12th Mar 19 12:04 pm

Mattress firm Eve Sleep has shaken up their management team, new boss James Sturrock is leading a new strategy at the firm.

Chief operating officer Felix Lobkowicz and finance chief Adib Ismail will both leave the mattress firm and Kuba Wieczorek, chief brand officer will move to a consulting role.

In a shock announcement Eve Sleep, has said they will end their 18-month commercial relationship with retailer Dreams.

Chairman Paul Pindar said, “In the last six months Eve has made considerable progress on its rebuild strategy under the new leadership of James Sturrock.

“I am confident that further significant progress will be achieved in 2019 as we focus on our pathway to profitability.”

Eve Sleep reported higher revenues on Tuesday but, pre-tax losses widened by 13% to £20.3m.

The mattress firm Eve pulled out of a few markets and our now focussing on their core UK, Ireland and French sales, their full-year revenue was up 25% to £34.8m.

Analysts at Peel Hunt said, “Final results have come in marginally ahead of our previous forecasts, but it is the progress on delivering improved marketing efficiency, central cost savings, improved delivery options, a wider product set, lower returns, growing brand awareness and improving conversion that gives confidence that the business is on the right track.”

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