Eve Sleep has reported strong sales for 2020 including record Black Friday and Boxing Day events.
The direct-to-consumer mattress retailer’s sales increased 6% to £25.2m for the full year to December 31, driven by 18% growth in the second half.
Eve Sleep now expects its full-year EBITDA losses to be £2m, an 81% cut from the previous year.
The retailer said it experienced record sales over the festive season as it plugged investment into a TV marketing campaign and expanded its ranges to include bed frames, sleep gifts and bedding.
Eve Sleep exited Amazon UK in September but has formed a retail partnership with Olivier Desforges in France as it looks to expand its business there in 2021.
Chief executive Cheryl Calverley said: “Our business reset is largely complete and our growth has accelerated more quickly than we initially anticipated as a result of the shift to online and the current strength of the homewares market.
“We have exceeded our financial expectations for 2020, which were raised twice during the year, extended our product ranges, opened new sales channels, increased brand awareness, presence and recognition, with the winning of the Which? awards, and improved the strength and resilience of our technology, logistics and operations platforms.
“In 2021 we will invest in growth initiatives across our business, particularly in France, where we see good opportunities to scale, whilst continuing to build on the current UK momentum.
“We are confident in the near-term outlook and although there is a high level of uncertainty as to the macro-economic backdrop and spending habits of consumers in the second half of the year, we have entered the new financial period with a much-improved proposition, a stronger balance sheet and a more resilient business.”
No comments yet