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2021-11-16
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Casper Created a Popular Brand, Not a Profitable Business<blockquote>Casper 创建了一个受欢迎的品牌,而不是一个有利可图的企业</blockquote>
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But it couldn’t solve the economics of its business model and turn a profit.</p><p><blockquote>Casper SleepInc.着手颠覆床垫行业,承诺远大的愿景和快速增长,巧妙的在线营销挤出了零售店。但它无法解决商业模式的经济性问题,也无法实现盈利。</blockquote></p><p> This week the mattress-in-a-box maker agreed to be taken private in a transaction that values Casper at less than $300 million, about half what it was worth whenit went public nearly two years ago. Casper had been valued at $1.1 billion in a private funding round in early 2019.</p><p><blockquote>本周,这家盒装床垫制造商同意在一笔交易中私有化,Casper 的估值不到 3 亿美元,大约是近两年前上市时价值的一半。Casper 在 2019 年初的一轮私人融资中估值为 11 亿美元。</blockquote></p><p> Casper was one of the first online brands to open its own fleet of stores and go public. Sales rose but it booked a net loss in every quarter since 2018, which includes two years before it went public and each period since its lackluster debut, according to data from S&P CapitalIQ</p><p><blockquote>Casper是首批开设自己的商店并上市的在线品牌之一。S&P CapitalIQ 的数据显示,自 2018 年以来,该公司的销售额有所增长,但每个季度都出现净亏损,其中包括上市前两年以及自上市以来表现平淡的每个时期</blockquote></p><p> Its flop on Wall Street coincides with the recent successful debuts of other popular online brands. Eyeglass sellerWarby ParkerInc.went public in Septemberand sports a market value of about $6.5 billion. Footwear makerAllbirdsInc.went public this monthand is worth $3 billion.</p><p><blockquote>它在华尔街的失败与最近其他受欢迎的在线品牌的成功首次亮相不谋而合。眼镜销售商Warby ParkerInc.于9月上市,市值约为65亿美元。鞋类制造商Allbirdsinc.本月上市,估值30亿美元。</blockquote></p><p> Casper is being bought by Durational Capital Management, a private equity firm that has previously invested in food companies such as Bojangles Inc. The deal is worth $6.90 a share, nearly double where Casper shares closed last week, but below the company’s$12 initial public offering price in February 2020.</p><p><blockquote>Casper 被 Durational Capital Management 收购,这是一家私募股权公司,此前曾投资过 Bojangles Inc. 等食品公司。该交易价值每股 6.90 美元,几乎是 Casper 股价上周收盘价的两倍,但低于该公司 2020 年 2 月 12 美元的首次公开募股价格。</blockquote></p><p> After starting out in 2014 as an online seller, Casper opened dozens of its own stores and started selling its products in traditional chains likeTargetCorp., which had invested in the startup.</p><p><blockquote>在2014年以在线卖家的身份起步后,Casper开设了数十家自己的商店,并开始在投资这家初创公司的TargetCorp.等传统连锁店销售其产品。</blockquote></p><p> The marketplace was flooded by dozens of internet mattress sellers, such asPurple InnovationInc.and Nectar Sleep, driving up the competition for shoppers and the costs of online advertising to reach them. Purple recently reported that sales fell in its latest quarter, and it cut its revenue targets for the year, citing production troubles.</p><p><blockquote>市场上充斥着数十家互联网床垫卖家,例如 asPurple InnovationInc. 和 Nectar Sleep,这加剧了购物者的竞争以及接触他们的在线广告成本。Purple 最近报告称,最近一个季度的销售额下降,并以生产问题为由下调了今年的收入目标。</blockquote></p><p> Meanwhile, incumbents including Serta Simmons Bedding LLC andTempur Sealy InternationalInc.started selling bed-in-a-box concepts, and online retailers includingAmazon.comInc.began making their own mattresses, undercutting the others on price.</p><p><blockquote>与此同时,Serta Simmons Bedding LLC 和 Tempur Sealy InternationalInc. 等现有企业开始销售盒装床概念,而 Amazon.comInc. 等在线零售商开始生产自己的床垫,在价格上低于其他床垫。</blockquote></p><p> Casper posted a net loss of $80 million for the first nine months of this year, compared with a loss of $75 million in the same period last year. The wider loss came as its costs of goods jumped 38% from a year ago compared with a 26% jump in revenue.</p><p><blockquote>Casper 今年前 9 个月净亏损 8000 万美元,而去年同期亏损 7500 万美元。造成更广泛亏损的原因是其商品成本较去年同期上涨了 38%,而收入则增长了 26%。</blockquote></p><p> The company said quarterly revenue for its direct-to-consumer business, which includes its roughly 70 stores, was down from the third quarter of 2019, as the company pulled back on advertising. “Frankly, that is really, really surprising because the mattress industry has seen record demand over the last 18 months,” said Peter Keith, senior analyst at Piper Sandler & Co.</p><p><blockquote>该公司表示,由于该公司减少了广告,其直接面向消费者的业务(包括大约 70 家门店)的季度收入低于 2019 年第三季度。“Piper Sandler & Co. 高级分析师彼得-基思(Peter Keith)说:”坦率地说,这真的非常非常令人惊讶,因为床垫行业在过去 18 个月中的需求创下了历史新高。</blockquote></p><p> Mr. Keith said the company suffered from too much overhead, and fumbled the rollout of its retail strategy. “They wanted to pull back on advertising while they executed their wholesale distribution strategy,” he said. “But cutting back on advertising negatively impacted their [direct to consumer] sales.”</p><p><blockquote>基思表示,该公司承受了太多的管理费用,并且在推出零售战略时犹豫不决。“他说:”他们想在执行批发分销战略的同时减少广告投放。“但削减广告对他们的[直接面向消费者的]销售产生了负面影响”。</blockquote></p><p> Casper said its board had explored a range of strategic options over several months and determined that the deal with Durational was superior because it “offers shareholders immediate and substantial value, and ensures the business has the financial flexibility required to support continued growth.”</p><p><blockquote>Casper 表示,其董事会在几个月的时间里探索了一系列战略选择,并认为与 Durational 的交易更胜一筹,因为它 “为股东提供了即时和可观的价值,并确保企业拥有支持持续增长所需的财务灵活性”。</blockquote></p><p> On Monday, Casper said co-founder Philip Krim was stepping aside as chief executive, a role he has held since the company’s earliest days. The entrepreneur and his colleagues started the online brand inspired by the success of Warby Parker.</p><p><blockquote>本周一,卡斯珀表示,联合创始人菲利普-克里姆(Philip Krim)将卸任首席执行官一职,他从公司成立之初就一直担任这一职务。这位企业家和他的同事受到Warby Parker成功的启发,创办了在线品牌。</blockquote></p><p> Casper helped prove that consumers would buy big-ticket items sight unseen. But it alsoran into the limits of ecommerce. “There’s still a lot of the population that will never buy a mattress without laying on it first,” Mr. Krim said in a 2018 interview.</p><p><blockquote>卡斯帕帮助证明了消费者会在看不见的情况下购买大件商品。但这也触及了电子商务的局限性。“克里姆先生在 2018 年接受采访时说:”仍有很多人在购买床垫之前不会先躺在床垫上。</blockquote></p><p> Casper responded to increasing online advertising costs withplans to open its own stores. As competition grew stiff among mattress startups, Casper intended to move from a brand known for its mattresses-in-a-box to a place to buy all types of sleep products.</p><p><blockquote>Casper 计划开设自己的商店,以应对不断上涨的在线广告成本。随着床垫初创公司之间的竞争日益激烈,Casper打算从一个以盒装床垫闻名的品牌转向一个购买所有类型睡眠产品的地方。</blockquote></p><p> The takeover by Durational must be approved by Casper shareholders. Casper said executives, directors and other investors who collectively own or control around 28% of the stock have agreed to vote in favor of the transaction.</p><p><blockquote>Durational 的收购必须得到 Casper 股东的批准。卡斯帕表示,共同拥有或控制约 28% 股份的高管、董事和其他投资者已同意投票支持该交易。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Casper Created a Popular Brand, Not a Profitable Business<blockquote>Casper 创建了一个受欢迎的品牌,而不是一个有利可图的企业</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCasper Created a Popular Brand, Not a Profitable Business<blockquote>Casper 创建了一个受欢迎的品牌,而不是一个有利可图的企业</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Wall Street Journal</strong><span class=\"h-time small\">2021-11-16 23:19</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Casper SleepInc.set out to upend the mattress industry, promising a big vision and rapid growth, with slick online marketing that cut out retail stores. But it couldn’t solve the economics of its business model and turn a profit.</p><p><blockquote>Casper SleepInc.着手颠覆床垫行业,承诺远大的愿景和快速增长,巧妙的在线营销挤出了零售店。但它无法解决商业模式的经济性问题,也无法实现盈利。</blockquote></p><p> This week the mattress-in-a-box maker agreed to be taken private in a transaction that values Casper at less than $300 million, about half what it was worth whenit went public nearly two years ago. Casper had been valued at $1.1 billion in a private funding round in early 2019.</p><p><blockquote>本周,这家盒装床垫制造商同意在一笔交易中私有化,Casper 的估值不到 3 亿美元,大约是近两年前上市时价值的一半。Casper 在 2019 年初的一轮私人融资中估值为 11 亿美元。</blockquote></p><p> Casper was one of the first online brands to open its own fleet of stores and go public. Sales rose but it booked a net loss in every quarter since 2018, which includes two years before it went public and each period since its lackluster debut, according to data from S&P CapitalIQ</p><p><blockquote>Casper是首批开设自己的商店并上市的在线品牌之一。S&P CapitalIQ 的数据显示,自 2018 年以来,该公司的销售额有所增长,但每个季度都出现净亏损,其中包括上市前两年以及自上市以来表现平淡的每个时期</blockquote></p><p> Its flop on Wall Street coincides with the recent successful debuts of other popular online brands. Eyeglass sellerWarby ParkerInc.went public in Septemberand sports a market value of about $6.5 billion. Footwear makerAllbirdsInc.went public this monthand is worth $3 billion.</p><p><blockquote>它在华尔街的失败与最近其他受欢迎的在线品牌的成功首次亮相不谋而合。眼镜销售商Warby ParkerInc.于9月上市,市值约为65亿美元。鞋类制造商Allbirdsinc.本月上市,估值30亿美元。</blockquote></p><p> Casper is being bought by Durational Capital Management, a private equity firm that has previously invested in food companies such as Bojangles Inc. The deal is worth $6.90 a share, nearly double where Casper shares closed last week, but below the company’s$12 initial public offering price in February 2020.</p><p><blockquote>Casper 被 Durational Capital Management 收购,这是一家私募股权公司,此前曾投资过 Bojangles Inc. 等食品公司。该交易价值每股 6.90 美元,几乎是 Casper 股价上周收盘价的两倍,但低于该公司 2020 年 2 月 12 美元的首次公开募股价格。</blockquote></p><p> After starting out in 2014 as an online seller, Casper opened dozens of its own stores and started selling its products in traditional chains likeTargetCorp., which had invested in the startup.</p><p><blockquote>在2014年以在线卖家的身份起步后,Casper开设了数十家自己的商店,并开始在投资这家初创公司的TargetCorp.等传统连锁店销售其产品。</blockquote></p><p> The marketplace was flooded by dozens of internet mattress sellers, such asPurple InnovationInc.and Nectar Sleep, driving up the competition for shoppers and the costs of online advertising to reach them. Purple recently reported that sales fell in its latest quarter, and it cut its revenue targets for the year, citing production troubles.</p><p><blockquote>市场上充斥着数十家互联网床垫卖家,例如 asPurple InnovationInc. 和 Nectar Sleep,这加剧了购物者的竞争以及接触他们的在线广告成本。Purple 最近报告称,最近一个季度的销售额下降,并以生产问题为由下调了今年的收入目标。</blockquote></p><p> Meanwhile, incumbents including Serta Simmons Bedding LLC andTempur Sealy InternationalInc.started selling bed-in-a-box concepts, and online retailers includingAmazon.comInc.began making their own mattresses, undercutting the others on price.</p><p><blockquote>与此同时,Serta Simmons Bedding LLC 和 Tempur Sealy InternationalInc. 等现有企业开始销售盒装床概念,而 Amazon.comInc. 等在线零售商开始生产自己的床垫,在价格上低于其他床垫。</blockquote></p><p> Casper posted a net loss of $80 million for the first nine months of this year, compared with a loss of $75 million in the same period last year. The wider loss came as its costs of goods jumped 38% from a year ago compared with a 26% jump in revenue.</p><p><blockquote>Casper 今年前 9 个月净亏损 8000 万美元,而去年同期亏损 7500 万美元。造成更广泛亏损的原因是其商品成本较去年同期上涨了 38%,而收入则增长了 26%。</blockquote></p><p> The company said quarterly revenue for its direct-to-consumer business, which includes its roughly 70 stores, was down from the third quarter of 2019, as the company pulled back on advertising. “Frankly, that is really, really surprising because the mattress industry has seen record demand over the last 18 months,” said Peter Keith, senior analyst at Piper Sandler & Co.</p><p><blockquote>该公司表示,由于该公司减少了广告,其直接面向消费者的业务(包括大约 70 家门店)的季度收入低于 2019 年第三季度。“Piper Sandler & Co. 高级分析师彼得-基思(Peter Keith)说:”坦率地说,这真的非常非常令人惊讶,因为床垫行业在过去 18 个月中的需求创下了历史新高。</blockquote></p><p> Mr. Keith said the company suffered from too much overhead, and fumbled the rollout of its retail strategy. “They wanted to pull back on advertising while they executed their wholesale distribution strategy,” he said. “But cutting back on advertising negatively impacted their [direct to consumer] sales.”</p><p><blockquote>基思表示,该公司承受了太多的管理费用,并且在推出零售战略时犹豫不决。“他说:”他们想在执行批发分销战略的同时减少广告投放。“但削减广告对他们的[直接面向消费者的]销售产生了负面影响”。</blockquote></p><p> Casper said its board had explored a range of strategic options over several months and determined that the deal with Durational was superior because it “offers shareholders immediate and substantial value, and ensures the business has the financial flexibility required to support continued growth.”</p><p><blockquote>Casper 表示,其董事会在几个月的时间里探索了一系列战略选择,并认为与 Durational 的交易更胜一筹,因为它 “为股东提供了即时和可观的价值,并确保企业拥有支持持续增长所需的财务灵活性”。</blockquote></p><p> On Monday, Casper said co-founder Philip Krim was stepping aside as chief executive, a role he has held since the company’s earliest days. The entrepreneur and his colleagues started the online brand inspired by the success of Warby Parker.</p><p><blockquote>本周一,卡斯珀表示,联合创始人菲利普-克里姆(Philip Krim)将卸任首席执行官一职,他从公司成立之初就一直担任这一职务。这位企业家和他的同事受到Warby Parker成功的启发,创办了在线品牌。</blockquote></p><p> Casper helped prove that consumers would buy big-ticket items sight unseen. But it alsoran into the limits of ecommerce. “There’s still a lot of the population that will never buy a mattress without laying on it first,” Mr. Krim said in a 2018 interview.</p><p><blockquote>卡斯帕帮助证明了消费者会在看不见的情况下购买大件商品。但这也触及了电子商务的局限性。“克里姆先生在 2018 年接受采访时说:”仍有很多人在购买床垫之前不会先躺在床垫上。</blockquote></p><p> Casper responded to increasing online advertising costs withplans to open its own stores. As competition grew stiff among mattress startups, Casper intended to move from a brand known for its mattresses-in-a-box to a place to buy all types of sleep products.</p><p><blockquote>Casper 计划开设自己的商店,以应对不断上涨的在线广告成本。随着床垫初创公司之间的竞争日益激烈,Casper打算从一个以盒装床垫闻名的品牌转向一个购买所有类型睡眠产品的地方。</blockquote></p><p> The takeover by Durational must be approved by Casper shareholders. Casper said executives, directors and other investors who collectively own or control around 28% of the stock have agreed to vote in favor of the transaction.</p><p><blockquote>Durational 的收购必须得到 Casper 股东的批准。卡斯帕表示,共同拥有或控制约 28% 股份的高管、董事和其他投资者已同意投票支持该交易。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.wsj.com/articles/casper-created-a-popular-brand-not-a-profitable-business-11637074947?siteid=yhoof2\">Wall Street Journal</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.wsj.com/articles/casper-created-a-popular-brand-not-a-profitable-business-11637074947?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108567702","content_text":"Casper SleepInc.set out to upend the mattress industry, promising a big vision and rapid growth, with slick online marketing that cut out retail stores. But it couldn’t solve the economics of its business model and turn a profit.\nThis week the mattress-in-a-box maker agreed to be taken private in a transaction that values Casper at less than $300 million, about half what it was worth whenit went public nearly two years ago. Casper had been valued at $1.1 billion in a private funding round in early 2019.\nCasper was one of the first online brands to open its own fleet of stores and go public. Sales rose but it booked a net loss in every quarter since 2018, which includes two years before it went public and each period since its lackluster debut, according to data from S&P CapitalIQ\nIts flop on Wall Street coincides with the recent successful debuts of other popular online brands. Eyeglass sellerWarby ParkerInc.went public in Septemberand sports a market value of about $6.5 billion. Footwear makerAllbirdsInc.went public this monthand is worth $3 billion.\nCasper is being bought by Durational Capital Management, a private equity firm that has previously invested in food companies such as Bojangles Inc. The deal is worth $6.90 a share, nearly double where Casper shares closed last week, but below the company’s$12 initial public offering price in February 2020.\nAfter starting out in 2014 as an online seller, Casper opened dozens of its own stores and started selling its products in traditional chains likeTargetCorp., which had invested in the startup.\nThe marketplace was flooded by dozens of internet mattress sellers, such asPurple InnovationInc.and Nectar Sleep, driving up the competition for shoppers and the costs of online advertising to reach them. Purple recently reported that sales fell in its latest quarter, and it cut its revenue targets for the year, citing production troubles.\nMeanwhile, incumbents including Serta Simmons Bedding LLC andTempur Sealy InternationalInc.started selling bed-in-a-box concepts, and online retailers includingAmazon.comInc.began making their own mattresses, undercutting the others on price.\nCasper posted a net loss of $80 million for the first nine months of this year, compared with a loss of $75 million in the same period last year. The wider loss came as its costs of goods jumped 38% from a year ago compared with a 26% jump in revenue.\nThe company said quarterly revenue for its direct-to-consumer business, which includes its roughly 70 stores, was down from the third quarter of 2019, as the company pulled back on advertising. “Frankly, that is really, really surprising because the mattress industry has seen record demand over the last 18 months,” said Peter Keith, senior analyst at Piper Sandler & Co.\nMr. Keith said the company suffered from too much overhead, and fumbled the rollout of its retail strategy. “They wanted to pull back on advertising while they executed their wholesale distribution strategy,” he said. “But cutting back on advertising negatively impacted their [direct to consumer] sales.”\nCasper said its board had explored a range of strategic options over several months and determined that the deal with Durational was superior because it “offers shareholders immediate and substantial value, and ensures the business has the financial flexibility required to support continued growth.”\nOn Monday, Casper said co-founder Philip Krim was stepping aside as chief executive, a role he has held since the company’s earliest days. The entrepreneur and his colleagues started the online brand inspired by the success of Warby Parker.\nCasper helped prove that consumers would buy big-ticket items sight unseen. But it alsoran into the limits of ecommerce. “There’s still a lot of the population that will never buy a mattress without laying on it first,” Mr. Krim said in a 2018 interview.\nCasper responded to increasing online advertising costs withplans to open its own stores. As competition grew stiff among mattress startups, Casper intended to move from a brand known for its mattresses-in-a-box to a place to buy all types of sleep products.\nThe takeover by Durational must be approved by Casper shareholders. Casper said executives, directors and other investors who collectively own or control around 28% of the stock have agreed to vote in favor of the transaction.","news_type":1,"symbols_score_info":{"CSPR":0.9}},"isVote":1,"tweetType":1,"viewCount":1349,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":7,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/871270084"}
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