Eve Sleep, a direct-to-consumer sleep wellness brand operating in the UK, Ireland and France, has reported 6 per cent revenue growth to £25.2 million in its fiscal 2020 ended on December 31, 2020 compared to the sales £23.9 million in the previous fiscal. The company’s loss after tax for FY20 reduced to £2.0 million (FY19: £12.1 million).
“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,” Cheryl Calverley, CEO of Eve Sleep, said in a press release. “But we do so carefully. Successful e-commerce businesses win through balancing growth, with customer experience and business resilience, and we will do the same.”
Gross profit for the year rose to £14.4 million (£12.7 million). Whereas, operating loss decreased to £2.4 million (£12.5 million).
Geographically, Eve Sleep’s revenue in UK & Ireland increased 11 per cent to £20.5 million (£18.5 million). However, France’s revenue dipped 14 per cent to £4.6 million (£5.3 million).
“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,” Calverley said.
Fibre2Fashion News Desk (JL)
Eve Sleep, a direct-to-consumer sleep wellness brand operating in the UK, Ireland and France, has reported 6 per cent revenue growth to £25.2 million in its fiscal 2020 ended on December 31, 2020 compared to the sales £23.9 million in the previous fiscal. The company's loss after tax for FY20 reduced to £2.0 million (FY19: £12.1 million).