Shares of Eve Sleep (LON: EVE) surged after the company released a trading update for the first eight months of the year…
The company stated that its trading patterns have remained above expectations during July and August and that it is on course to exceed its original expectations set out in a trading update released in July.
Eve stated that it now expects revenues of “at least £22 million,” and a similar reduction in the size of its EBITDA losses for this year, along with an improvement in its year-end net cash position.
Eve's CEO Cheryl Calverley said: “This guidance upgrade is evidence of our momentum and the success of our rebuild strategy, against a backdrop of a consumer landscape shifting to online and market trends in favour of homewares and sleep wellness.
“Whilst economic uncertainty is likely to remain for some time, we are starting to look beyond our rebuild strategy to the next stage of growth.”
Eve Sleep's share price…
Eve's stock price jumped as high as 7p per share after the update and is currently trading at 6.50p, up 6.56%.