// Eve Sleep raises expectations for the full year
// The company expects revenues to reach £22 million for the year
Eve Sleep has raised its expectations for the full year after its “trading continues to be strong”.
The mattress retailer said in a trading update covering the eight months to August 31 that it expects revenues to reach £22 million for the year.
Eve Sleep said it expects the “strong” trading to continue for the rest of the year after the company recorded accelerated revenues in May, June and July.
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Eve Sleep also said it is on course to exceed board expectations, with EBITDA losses to “fall commensurately” from the original £3 million prediction.
This would be an improvement on the losses in 2019, which came to £10.9 million.
“This guidance upgrade is evidence of our momentum and the success of our rebuild strategy, against a backdrop of a consumer landscape shifting to online and market trends in favour of homewares and sleep wellness,” Eve Sleep chief executive Cheryl Calverley said.
“Whilst economic uncertainty is likely to remain for some time, we are starting to look beyond our rebuild strategy to the next stage of growth.”
Eve Sleep said it will provide additional detail with the release of its interim results for the six months ended June 30, 2020, which are due to be published on September 15, 2020.