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Agree on the James Sturrock point. He was with us as CEO for 5 minutes before getting a better offer and moving on. Yet we continue to pay him as an non exec. So frustrating for investors.....
Dontgiveup, EVE will be buying direct from the manufacturer at a significantly low price. They like other companies in the same sector will artificially inflate RRP then discount it, to look like a bargain. I wouldn't be surprised, especially with ancillaries that at a 50-60% off the RRP, they still make 100% profit excluding expenses (i.e overheads, free delivery etc).
Don’t know how there can be any profit in a 62% discount item ( with the added overheads remaining stationery) for a high quality product so either the material is not good quality or the actual machinists would have to be on very poor wages (can’t see CC and EVE culture going this way) so are they selling at a loss or at cost?
What’s the point if they are intended to restock and with inflation etc will they even be able to buy in replacement stock at same price? Yes — lots of unknowns here but the mind does swirl with questions as to how this is good policy —- not even at a particular special yearly sale period!
Would really like some news from EVE!
Hi Wress, I’ve ticked a few of your posts elsewhere as the bullies don’t like an alternative view.
When I searched for eve yesterday a flat came up as the landlord advertised it with a brand-new eve mattress as a rental ‘plus point’. He obviously thought that enough people had heard of eve, and thought highly of them, for it to be worth mentioning.
They should do a deal with new house builders
When a new purchase first time buyer they get a free bed
Hard times for consumers... the only way to attract purchases especially big ticket items from a limited pool of buyers is to discount aggressively while competitors are doing the same. What other ways for CC to attract people to buy mattresses especially when times are extremely tough for people as energy prices soar?
Hi DG, the way I understood it, 30K is a retainer and excludes any consultancy fees. He did not exactly prove himself, when he sailed the ship.
As for CC, she maybe a marketing genius but as as a CEO the MCAP shows how well she is performing.
CC has criticised (and had her complaint upheld) other sellers who've cheated at their 'sales'. She must do it properly now or they will do the same to her which wouldn't be a help atm.
I see eve are selling their memory foam pillow for https://www.evesleep.co.uk/products/the-memory-foam-pillow £69.
You can buy one from argos for £60 today. In a month she can drop the price and say it's on sale. Maybe it will go to less than £60.
On eBay today you can buy them off eve for £39, new, and for less if you buy more than one. They are good pillows and 'sale price' means the price can go up again too, without looking shocking. Only CC and her team know the exact plan I guess, and they won't tell us.
I haven't been following the price of sheets. They do seem very cheap, for whatever reason, but maybe they are 60% less than a previous 'high' price, and are usually 30% off anyway, most of the time. So roughly an extra 30% off today, to get to 60% off. I'd buy some if we needed sheets.
Maybe people often buy sheets in addition to a mattress, or buy sheets alone, then buy a mattress 'cos they like the sheets. My point is *I just don't know* and CC probably does (even if, heaven forbid, they just have too many sheets and need to shift them fast). Maybe CC is desperate for cash and selling sheets at little more than cost are a way to convert stock to cash. I'm just guessing.
I have no choice but to believe in CC or sell my shares...
... and if EVE must discount bed linen to 62% in some cases would prefer to see this discount tied into ‘buy a full price EVE duvet and thereby qualify for up to 62% discount on bed linen such as duvet covers etc!!!!’
Will be a nice day when EVE are able to announce the first profitable year.
Hi Firex,
I'm sure you know this but maybe others don't.
In a couple of minutes searching it was hard to discover how Tapi Carpets are doing now (run by James Sturrock, former eve CEO, and still non-executive board member at eve) but found this from last year:
Tapi Carpets set to register first-ever profitBy Rosie Shepard7 January 2021
Tapi Carpets has recorded strong sales growth in its second half, leading to the retailer’s first-ever profit for 2020.
The flooring specialist saw a 30% sales uplift year on year, which it attributed to its digital initiatives in a strong homewares market during the coronavirus pandemic.
Tapi expects revenues to exceed £100m for the full year, up from £97m in 2019, and to report its maiden EBITDA profit of £1m.
This is a major improvement for the business, which recorded losses of £10.2m in 2019.
https://www.retail-week.com/home-and-diy/tapi-carpets-set-to-register-first-ever-profit/7036541.article?authent=1
I assume his interests are aligned with eve shareholders and he'll do well personally if the sp rises. He brought CC into eve.
Perhaps a set of concerning questions needs to be compiled by a variety and collective of shareholders to put directly to EVE management?
Never mind the pillows Dontgiveup, I want to know why we are still paying Moonpig Boy 30k a year with 1p options?
And on checking further some EVE bed linen lines up to 62%off. What happened to the premium brand image —- is such discounts only there to create activity do the staff will have something to do? How can 62% off and then the overhead costs to be included be on a trajectory to sustainable profitability? Also will such discounts ( even considering they still create a net profit) not just make EVE products seem cheap products and who will want to pay full asking price ever again? Really not liking this amount of discounting!
Pillow was £59; now £69.
https://www.evesleep.co.uk/products/the-memory-foam-pillow
Probably temporary rise and then in a sale.
What is going on? 60% off; seriously?
https://www.evesleep.co.uk/collections/bed-linen