// Eve Sleep reduced statutory losses by 83% in 2020
// Eve Sleep said its performance in the year to December 31 was ahead of expectations
// The retailer saw its sales rise 6% to £25.2m last year
Eve Sleep has cut its annual losses by 83 per cent to £2 million last year, and said its recovery programme is ahead of schedule.
The retailer saw its sales rise six per cent to £25.2 million last year, while gross margin improved following a focus on profitable sales.
Eve Sleep said its performance in the year to December 31 was ahead of expectations and that its rebuild strategy was “essentially complete”.
READ MORE: Eve Sleep appoints Masood Choudhry to the board
“Eve’s rebuild strategy is essentially complete, six months ahead of plan,” Eve Sleep chief executive Cheryl Calverley said.
“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.
”But we do so carefully. Successful ecommerce businesses win through balancing growth with customer experience and business resilience, and we will do the same.
“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.”
Eve Sleep chair Paul Pindar said the switch to online during Covid-19, and the strength of the overall homewares market during lockdown had ”provided tailwinds”.
However, he said the retailer acted to ensure a ”more resilient and efficient technology, logistics and operational platform for future growth”.
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