Eve Sleep ties up with Boots on Christmas ranges as losses narrow

The online mattress specialist said the Well Slept range will launch in October. 

It comes as Eve seeks to build on what it called a “strong improvement” in trading since April.

Eve narrowed its pre-tax losses to £1.3m in the six months to June 30, compared with £6.7m a year ago, as it continues to focus on sharpening up its digital marketing and improving conversion rates. 

Sales dropped 5% to £12.2m during the period, but marketing spend accounted for just 25.3% of those sales, compared with 51% a year ago. 

As a result of that drive, Eve registered a positive EBITDA in May and June, an achievement that it said was “markedly ahead of board expectations”. 

Earlier this month, Eve raised full-year revenue expectations to £22m and today it said underlying EBITDA losses would come in lower than the board’s previous forecast. 

However, it cautioned that “heightened economic uncertainty is likely to persist” in the coming months as the UK grapples with the impact of the coronavirus pandemic.

Eve Sleep chief executive Cheryl Calverley said the first six months of the year had been “a highly unusual and complex trading period”, but said Eve had benefited “significantly” from the shift to online shopping and “increased consumer investment in the home” during lockdown.  

Calverley added: “The focus now is on building towards a longer-term growth plan as we draw closer to our goal of securing a base as a sustainable, profitable business.

“We do not expect this to be easy, and 2021 like 2020 may well bring both challenges and opportunities as economies shift, consumers reset and competitors rebuild. 

“However, I have confidence in our brand, our products, our customer experience and, most importantly, our team that we are now well set up to capitalise upon whatever opportunities the next few years may bring.”