Eve Sleep half-year sales down while losses reduced

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Eve Sleep James Sturrock Simba
Eve Sleep issued a profit warning last week after its proposed merger with fellow mattress retailer Simba collapsed
// Eve Sleep half-year sales down 8% to £12.9m in the 6 months to June 30
// Gross profits fell by 13% to £6.7m in the period
// Statutory losses before tax were up to £6.7m from £12m

Eve Sleep has reported a first-half sales rise across the business as losses remained steady.

In the six months to June 30, the mattress-in-a-box retailer saw total sales in the UK and Ireland fall by eight per cent to £12.9 million, while gross profits fell by 13 per cent to £6.7 million.


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Eve Sleep reported an underlying EBITDA loss of £5.9 million compared with the £11.9 million loss in the same period last year.

Statutory losses before tax were up to £6.7 million from £12 million.

Meanwhile, sales of non-mattress products contributed to 24 per cent of revenue in the first half of the year.

Eve Sleep had also expanded its retail partnership with Next Home by 104 stores in August, and had struck three new partnerships with Argos, Dunelm and Homebase.

However, the retailer issued a profit warning last week after its proposed merger with fellow mattress retailer Simba collapsed.

Eve Sleep said the collapse was mainly down to “challenging” trading and an uncertain economic outlook, as well as heavy discounting.

Eve Sleep’s proposed merger with Simba was announced in August.

“We are making good progress with our strategic focus to build a sleep wellness brand, as a key differentiator to peers and to secure the foundations for a profitable and sustainable future for Eve,” Eve Sleep chief executive James Sturrock said.

“While the headwinds have increased, we have a flexible and adaptable business model, alongside a strategy that will clearly differentiate Eve in the longer term from peers.”

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