Member Info for D-Geeman

They might have sold? Don’t know what their holding is / was but there have been a few big sells.

Response from eve:

‘ Hi D-Geeman,

Thanks for your message and I hope you are keeping well. It is certainly a busy time for us here at eve as we, like a great many businesses, continue to adapt to the changing consumer environment. We totally hear your understandable feedback on wanting to hear more about the current process. There are, as I know you'll appreciate, procedures and best practices in place we must adhere to during a FSP which govern how and when we should communicate information. For any specific questions you may have, you are always welcome to contact our investor email where Mark or another member of the team can respond. Rest assured we will share updates when possible. We continue to work on every possible front to maximise shareholder value and, as always, appreciate your ongoing interest and support of us as a business.

Kind regards,
eve Customer Services’

Yanis, I've now sent the same thing directly to eve's help desk, to the person who's written to me in the past, and asked him to share it with CC.
I expect a reply within a day or so.

Yanis, I just sent a screen grab of your actual post to Mark at M7 FAO eve, by email. Said I was happy to pass on.

If Dontgive sends it too then so much the better.

In the May period (month ending June 7th) and by my reckoning, Argos sold 39 sleep aways.

Two and a bit weeks on and already sold 50 counting by the same method.

Maybe not a 'major' USP but possibly a 'slightly exclusive' selling point.

Keep posting wyn, I for one appreciate your input.

It is pretty desperate for eve. Not without a chance of survival but yes to dontgive, confidence in people here has obviously gone. Doesn't mean they are definitely right, just a majority opinion.

I am trying to find out if CC is still speaking at the MAD festival 5-7th July. https://www.madfestlondon.com/speakers She is listed as a speaker but I don't see her name on the agenda for any of the 3 days. I am not expecting any media from CC at the moment (what could she say?) but she's been down as a speaker at the festival for months.

At least, if she doesn't attend she will presumably be trying to save the company.

Could be that no one sees value as part of a bigger outfit, even without the costs they save by running it from their own HQ. That's the other scenario, just putting down the shutters and giving the keys back.

I just can't envisage that. The brand has to be worth something, the website, the contracts.

'very close to profitability' was not what the RNS said I'm afraid. It was saying that recent revenues have been, and will continue to be, lower than previously forecast (profitability is not going to be reached because of this). There is zero chance of profitable any time soon while eve is in its current form.

But what value without profit? The negative view is eve would go into admin and someone might buy it for less than they would buy it for now.

Is that very likely? A better price later than now?

There are no debts atm. So if someone bought it now they get it debt free, maybe even some money in the bank. If they delay (and bearing in mind eve doesn't have an overdraft facility as far as we know) eve would still be liable for rent on the office for another year, but what else? If it were in admin, what other bills, other than rent, would it face? Would employees be entitled to redundancy? The accountants would certainly take their cut. But would a buyer get any better deal buying eve after it went to zero pounds than buying it now, paying a bit more, but getting a fully functioning company?

Would you rather buy a used car that's running well, or get it after the owner's gone bust and left it in a car park, in the bad weather, for 6 months?

The accountants / administrators would get paid: that is of no benefit to the current shareholders or the new owner. People in charge now may be trying to go early so avoid what money there is in the company going that way.

If there were lots of debt, yes, buy from admin after all the debts have been written off. Get a bargain; let the old shareholders take the hit. But eve doesn't have lots of debt and probably isn't actually in a position to accrue lots of debt for the very reason that it isn't likely to become profitable as it is. Eve might go bust but it won't go bust with a pile of debt. It is a better buy now than one from out of admin as the main bonus of 'out of admin' – debt burden being lifted – won't apply.

(This is where an accountant comes and tells it how it actually is, and blows apart my prediction..)

Eve profitable (or profit close) atm; no.

Take away the costs of the office and top managers' salaries in a takeover and eve becomes profitable; maybe.

Attractive as a profitable part of their portfolio (to the likes of emma, Simba, DFS, Argos/Sainsbury's, Frasers PLC et al); probably / hopefully. But would they move now or later? There are enough names in my own hat to think they might not want to wait too long and lose out, but what do I know..

I think the FSP would not have happened if eve were profitable. That goes without saying. If they were profitable or profit was very near they'd have no trouble raising money or borrowing it.

Yes dontgive, I read the piece. I haven't looked any further though. They don't mention any failed-negotiation so perhaps no one came forward after 5 or 6 weeks and they had no choice but carry on trading as they were.

Maybe 5 / 6 weeks is long enough to test the water. Failed negotiation have to be announced (I think they said) so I guess we are entering the time that non-starters could be announced but too early for serious people to have been rejected. And serious bidders might still be preparing to throw their hats in (not looking too keen at the start; hoe they are the only one, like bidding at the end of the eBay auction).

Or maybe there's been radio silence from all prospective partners and that will continue.

Just for comparison (not new figures; been out for a couple of weeks) but our web traffic has been going up (due to the C4 sponsorship?) and these two have gone down in comparison. Emma is of course bigger than eve. Scroll down through the pages.
https://www.similarweb.com/website/brookandwilde.com/vs/evesleep.co.uk/#ranking
https://www.similarweb.com/website/evesleep.co.uk/vs/emma-sleep.co.uk/#ranking

If our trajectory continues upwards then it's a useful bargaining chip in any negotiations imo.

Wouldn't be appropriate to name-names but I don't even think we are the most vulnerable of the companies in our area.

Not sure how bad news elsewhere would affect us. Tarred with the same brush, or, we'd inhabit a pond with fewer fish. Or other fish would team up against us.

I fully agree don’tgive. But at the moment there doesn’t seem to be a solution which is why we are up for sale.

But what would you do, if you had no allegiance, and saw this headline on google when searching for a mattress?

'Up to 53% Off at Emma® - Emma® Yellow Week Sale'

15% off... Or 53% off..

(Aim, just to be clear, I have one person in a green box and not you)

This is from my watch list. I bookmarked Frasers at 233p. Now they are 632p. They looked very precarious at 233p and I didn't buy. Would have made 171% (on paper) if I'd bought.

Frasers Group plc ORD GBP0.10
632.50p
+8.00p +1.28% 1 233 6.33 +4.00 +171.67 (%)

Green box to me..

If the BOD changed at this point that would probably be even more of a catastrophe for the SP, and I wonder whether they could get people of better calibre with the bank balance. Anyway, that's not my decision.

We have had many Oral B electric toothbrushes over the years. We've bought every one when on promo at 50% off. If you suddenly had to buy unexpectedly (lost a suitcase when flying maybe) and needed a toothbrush, maybe it would be necessary to pay full price but, as long as one's organised, 50% off is the norm. Oral B are owned by Procter & Gamble which I assume are profitable.

Ii think the problem is the cost of living crisis rather than the discounts. As others have said, if they could sell the mattresses for more, they would. If they have the staff and there's stock in the warehouses, they simply have to keep selling or the stock just becomes a fixture, and ornament, doing nothing. Selling at a loss, or not selling due to the crisis, is why eve are where they are I'm afraid.

I can imagine eve has popped up on their radar but when they would move, who knows...

Frasers Group
Other acquisitions and closures
In February 2019 the group acquired Sofa.com for a nominal sum.[57]
On 30 October 2018, Evans Cycles was purchased by Sports Direct in a pre-pack administration deal.[56]

Frasers Group
From Wikipedia, the free encyclopedia

Frasers Group plc (formerly known as Sports Direct International plc) is a British retail and intellectual property group, named after its ownership of the department store chain House of Fraser. The company is best known for trading predominantly under the Sports Direct brand which operates both physical outlets and online.[5] Other retailers owned by the company include Jack Wills, GAME, Flannels, USC, Lillywhites and Evans Cycles. The company owns numerous intellectual property, including the brands Everlast, Lonsdale, Slazenger and No Fear.[6] The group also expanded into operating fitness clubs, launching the Everlast Fitness Club chain in 2020.[7] Established in 1982 by Mike Ashley, the company is the United Kingdom's largest sports-goods retailer and operates roughly 670 stores worldwide.[8] The company's business model is one that operates under low margins.[9] Mike Ashley has continued to hold a majority stake in the business, and his holding has been 61.7 percent since October 2013.[10] It is listed on the London Stock Exchange and it is a constituent of the FTSE 250 Index.

To be fair to Aim, I read it that he believe you DO believe, but he doesn't (believe what you say) wyn.

Aim's a good-guy but you both see things differently which is fine.

I think I once said that HE1 was more risky than eve but sine the 'for sale' RNS, they are probably nearer the same.

Sleep Away is still selling well at Argos. I have a slight worry with the people buying Sleep Away based in this, at the eve sleep site:

'can I use sleep away products outside?
The sleep away range is only made for use indoors. And the reason for this is a simple one: as we use the same great materials as we do in our regular bedding, that means the sleep away range isn’t suitable for use outdoors and the foam in the mattress could get damaged. So no camping or al fresco kipping, we’re afraid.'

Dontgive once said people could be buying for festivals. What if buyers are intending to return the mattresses during the return window and after the festival?

Look at this on Gumtree:

https://www.gumtree.com/p/mattresses/eve-sleep-away-mattress-/1435332364

To me the illustration on the Sleep Away storage bag does look like a tent under the stars. Am I imagining that?