Skip to main content
Sister Publication Links
  • Middle East Foam & Polyurethane
  • UTECH Asia/PU China
  • UTECH Europe
  • UTECH Las Americas
Subscribe
  • My Account
  • Login
  • Subscribe
  • Coronavirus
  • News
    • Asia
    • Americas
    • Europe
    • M & A
    • Financial results
    • Automotive
    • Wanhua completes MDI expansion in Yantai
      Sheela Foam suspends production at Jalpaiguri
      Slentex gains first industrial application
      Turkish sandwich panel maker expands to Azerbaijan
    • Casper 2020 sales up 9%, losses fall
      Coronavirus took 67% off Magna's seating earnings in 2020
      Fictiv raises $35m to expand digital manufacturing services
      Ingevity to make Capa polyols in Louisiana
    • Depressed automotive demand in 2020 hit Faurecia's numbers
      New conductive PU potting compound
      Kingspan profits up slightly in 2020
      PU increases recovery in precious metal mining for FLSmidth
    • Turkish sandwich panel maker expands to Azerbaijan
      BPCL Polyol project in doubt
      PPG buys polyurea company Versaflex
      Recticel buys FoamPartner
    • Depressed automotive demand in 2020 hit Faurecia's numbers
      Casper 2020 sales up 9%, losses fall
      Coronavirus took 67% off Magna's seating earnings in 2020
      Kingspan profits up slightly in 2020
    • Depressed automotive demand in 2020 hit Faurecia's numbers
      Global car sales on rise in January 2021
      Coronavirus takes 14% off Lear's top line
      Coronavirus suppression squeezes western Europe vehicle demand
  • Data
  • Information
    • Country Overview
    • Market Sector overviews
    • Technical articles
    • Company profiles and strategies
    • China’s PU industry on the path to recovery; plans for technology upgrades
      Chinese cold chains grow bigger
      Flexible foam rises to challenges in the Middle East and Africa
      Life at the cross-roads: what does the GCC offer PU?
    • Europe's flexible foam makers face rising prices as outages hit markets
      Western European car registrations rebound slowed in September
      Western European car registrations regained some ground in August
      Western European Car registrations rebound continued in July
    • Take out the VOC with hybrid release agents
      Batteries give pultrusions power
      Seeing a way through VOC and FOG
      Aromatic polyols for simpler rigid PU formulations
    • Hennecke and Frimo: an automotive partnership
      Pushing ahead: AutoRIM drives KM’s UK growth
      BASF opens it first ‘Creation Center’ in Mumbai with a PU twist
      Persistence pays off for CTM
  • Events
    • Exhibitions
    • Conferences
    • Webinars / Livestreams
    • Become a Speaker
  • Advertise
  • Contact Us
  • Issues
  • Subscribe
MENU
Breadcrumb
  1. Home
  2. News
May 13, 2020 02:15 PM

Q1 sales up, but Casper retreats from Europe

Simon Robinson
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    New York, New York – Casper Sleep, the bed-in-a-box company, had total sales of $113m in the first quarter of 2020, up 26.40% on the same period last year.

    Krim: exiting Europe

    Adjusted EBITDA fell from a loss of $14.3m in the first quarter of 2019 to a loss of $22.9m in the first quarter of 2020. 

    CEO Philip Krim said: 'I am pleased with the solid financial results in Q1 and strong early performance in Q2.'

    First quarter revenue grew because the company sold more products directly to consumers and gained market share at its 59 stores in the US until they were closed by the coronavirus pandemic. 

    Also in the first quarter, the company changed its logistics provider, which should save money in the longer term. It also dropped prices to clear the decks for new products at the end of the quarter. Both of these moves hit EBITDA.

    The coronavirus emergency has had 'only a minor impact to our inventory availability and deliver capacity', according to  Krim. 

    Casper also confirmed that it is pulling out of Europe, with the loss of 78 jobs by the end of 2020. This will save the company $10m/year in costs. 

    The company is starting the second quarter on the up. Krim added: 'We achieved preliminary growth of over 15% year-over-year in April, led by e-commerce growth of over 35% and retail partnership growth of over 20%.' 

    Casper Sleep numbers Q1 2020 ($ m)
    Group Q1 2020 Q1 2019 Change %
    Sales 113.0 89.4 26.4
    Adjusted EBITDA -22.9 -14.3 NM
    Margin % NM NM
    Source: Casper, Note NM=Not Meaningful
    Recommended for You
    Depressed automotive demand in 2020 hit Faurecia's numbers
    Depressed automotive demand in 2020 hit Faurecia's numbers
    Wanhua completes MDI expansion in Yantai
    Wanhua completes MDI expansion in Yantai
    Casper 2020 sales up 9%, losses fall
    Casper 2020 sales up 9%, losses fall
    Latest Issue
    Click HERE for Free Download
    View All Archives
    Get our newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Register to access our archive of leading information on the polyurethanes industry.

    Subscribe now
    Connect with Us
    • Twitter
    • LinkedIn
    • Facebook
    • Youtube

    Follow us on social media for the latest polyurethanes industry news and event updates.

    Logo
    Contact Us

    Office 127,
    61, Willow Walk,
    London
    SE1 5SF
    E-mail us
    +44 (0) 203 287 5979

    Customer Service:
    +1 313 446 0450

    Resources
    • Advertise with Us
    • Media Kit
    • Staff
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • Coronavirus
    • News
      • Asia
      • Americas
      • Europe
      • M & A
      • Financial results
      • Automotive
    • Data
    • Information
      • Country Overview
      • Market Sector overviews
      • Technical articles
      • Company profiles and strategies
    • Events
      • Exhibitions
      • Conferences
      • Webinars / Livestreams
      • Become a Speaker
    • Advertise
    • Contact Us
    • Issues
    • Subscribe