4 minute read
Emma sees sales rocket
Emma sees sales rocket while Eve cuts losses
Emma – The Sleep Company saw sales rocket by 170% last year as sales climbed from €150m to €405m.
The company says it sold 1.5million mattresses across the 26 countries it operates in, making it the largest directto-consumer bed brand. Emma says it ‘expanded its profitability’ but no figures were released.
‘I am excited, grateful and proud that we are progressing at light speed to make Emma the number one global sleep brand. A turnover of €405m in 2020 proves that our three levers to globally scale the business are well-chosen: growth in new markets, increasing market share in existing markets and expanding our omni-channel strategy,’ says Dennis Schmoltzi, Emma ceo and co-founder.
The company introduced the Emma Motion smart mattress in France and the Netherlands last month before rolling it out to other countries. Its features include the ‘Infinite AI Sensor’, a mat that uses an artificial intelligencebased neural network to permanently detect the user’s sleep position, and the ‘Silent Move IQ’ technology, which ensures that the mattress automatically, silently and smoothly adapts to each change of sleep position.
In the coming months, Emma will also launch more sleep tech products, such as the Emma App. It will also add to its offer with the customisable, upholstered Emma Bed, which will be launched in Germany, France, the Netherlands, Belgium, the UK, Sweden and Denmark.
Eve Sleep has slashed its full-year EBITDA losses from £10.7m to £2m for 2020.
Sales rose by 6% to £25.2m, helped by growth of 18% in the second half. January trading ‘has started well’, it says.
‘Eve has exited 2020 in far better shape than it entered the year. Losses have been reduced throughout the year, ahead of initial expectations, through a focus on profitable sales channels and product mix improvements, including taking the decision to exit Amazon UK from September. The company has also maintained its tight control of overheads and a continued focus on improving marketing efficiency and effectiveness, on a marketing budget, which was 51% lower year-on-year.’
The company says it had done particularly well at its higher priced products, such as the Premium Hybrid mattress and Spindle bedframe, and had been able to increase prices in November. It had cash of £8.3m at the year-end.
The Emma Motion smart mattress uses AI-based technology
Profit for Tapi
Tapi made a profit in the second half of 2020 amid a post-lockdown sales surge.
The flooring chain estimates that sales for the year were up 30%, with growth as high as more than 40% from June to October when stores were open.
James Sturrock, Tapi ceo says the continuing roll-out of stores, Homebase concessions and mobile showrooms along with online activity accounted for ‘an improved and pleasing underlying growth rate in 2020. The business as a result has been EBITDA positive in the second half of 2020.’
The chain saw sales rise by 23% to £97.5m in 2019, its recently filed accounts show – largely due to store openings – while pre-tax losses grew from £15.3m to £17.5m.
‘Satisfactory’ result at B&S as homewares trade remains strong
Furniture chain Barker & Stonehouse saw operating profits jump by 17% to £2.96m in the year to 29 March 2020 as sales dipped 3.2% to £75.06m.
The 12-store chain saw pre-tax profits rise from £1.834m to £2.022m as gross margin rose from 46.3% to 46.6%.
‘Turnover dropped slightly during the year, due to the global pandemic and culminating in the stores and warehouses being closed in March. Despite this, operating profit showed an increase of 17%. Gross margin has been maintained and cash has improved to just under £5m,’ says the company accounts.
‘The group disposed of the final legacy property in Teesside and the loss on that disposal is included in these accounts. In all circumstances, the directors consider the results to be satisfactory.
‘Since re-opening, post-lockdown, trade in all stores has been above that of last year, due to a degree of pent-up demand.
‘Despite this year's unprecedented Covid situation, the company is up to date with its corporate PAYE, VAT, taxation liabilities and with all landlords. Our suppliers have also been paid on time throughout the year.
‘Like many homewares businesses, the company has traded strongly since the year-end despite the pandemic,’ it says.
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