Casper Created a Popular Brand, Not a Profitable Business

Wall Street Journal2021-11-16

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 ...

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精彩评论

ty91
2021-11-17
ty91
Like
pangchingwen
2021-11-17
pangchingwen
good
- pangchingwen:
  👌
Gackky
2021-11-17
Gackky
i only know Casper, the friendly ghost [Grin]
- 新手多多指教谢谢:
  😂😀
- XYSAYSYO:
  Shag
GohKS
2021-11-17
GohKS
Please like and comment. Thank you.
- 青龙31:
  ok
- Piggys:
  Done👍🍭
BerySu
2021-11-17
BerySu
Agree with two hands
KYHBKO
2021-11-17
KYHBKO
the business revenue had increased but remained in the red due to costing challenges. a deep dive is needed before investing. thus far, the absence of any profit making quarters remain a concern but if the business can be turned out, it can be good for investors.
- xshinado:
  Xx
- eeez:
  👌
- BerySu:
  is a good point

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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. 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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. 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Thank you.","listText":"Please like and comment. Thank you.","text":"Please like and comment. Thank you.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/871499737","repostId":1108567702,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6605716,"gmtCreate":1637104291493,"gmtModify":1637104291593,"authorId":3576343495749854,"author":{"id":3576343495749854,"idStr":"3576343495749854","authorId":3576343495749854,"name":"青龙31","avatar":"https://static.tigerbbs.com/0a90e7038ecc62a70099f6c916904ede","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":871499737,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"},{"id":6605616,"gmtCreate":1637104036877,"gmtModify":1637104036963,"authorId":3582350348015234,"author":{"id":3582350348015234,"idStr":"3582350348015234","authorId":3582350348015234,"name":"Piggys","avatar":"https://static.tigerbbs.com/5f386502c2ebc95e1f03787b092501ef","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":871499737,"type":1,"supId":0,"prevId":0,"content":"Done👍🍭","text":"Done👍🍭","html":"Done👍🍭"}],"langContent":"CN"},{"id":871490042,"gmtCreate":1637103309550,"gmtModify":1637103310290,"author":{"id":"3546930995300503","authorId":"3546930995300503","name":"BerySu","avatar":"https://static.tigerbbs.com/3c3802c0d320bab512162287a76a2688","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3546930995300503","authorIdStr":"3546930995300503"},"htmlText":"Agree with two hands","listText":"Agree with two hands","text":"Agree with two hands","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/871490042","repostId":1108567702,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":871407380,"gmtCreate":1637103197384,"gmtModify":1637103197384,"author":{"id":"3574381076586256","authorId":"3574381076586256","name":"KYHBKO","avatar":"https://static.tigerbbs.com/c3bcbc7f9a10836dea92afc94bf39b5b","vip":2,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3574381076586256","authorIdStr":"3574381076586256"},"htmlText":"the business revenue had increased but remained in the red due to costing challenges. a deep dive is needed before investing. thus far, the absence of any profit making quarters remain a concern but if the business can be turned out, it can be good for investors.&nbsp;","listText":"the business revenue had increased but remained in the red due to costing challenges. a deep dive is needed before investing. thus far, the absence of any profit making quarters remain a concern but if the business can be turned out, it can be good for investors.&nbsp;","text":"the business revenue had increased but remained in the red due to costing challenges. a deep dive is needed before investing. thus far, the absence of any profit making quarters remain a concern but if the business can be turned out, it can be good for investors.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":15,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/871407380","repostId":1108567702,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6607069,"gmtCreate":1637107847967,"gmtModify":1637107848071,"authorId":3573214297634226,"author":{"id":3573214297634226,"idStr":"3573214297634226","authorId":3573214297634226,"name":"xshinado","avatar":"https://static.tigerbbs.com/83a097d6ac89fcfa0e00dc4ec008a62d","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":871407380,"type":1,"supId":0,"prevId":0,"content":"<u>Xx</u>","text":"<u>Xx</u>","html":"<u>Xx</u>"},{"id":6605624,"gmtCreate":1637104070316,"gmtModify":1637104070316,"authorId":3570813663502369,"author":{"id":3570813663502369,"idStr":"3570813663502369","authorId":3570813663502369,"name":"eeez","avatar":"https://static.tigerbbs.com/3e4f974ced53f13a2b714d56018e7b43","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":871407380,"type":1,"supId":0,"prevId":0,"content":"👌","text":"👌","html":"👌"},{"id":6605434,"gmtCreate":1637103329818,"gmtModify":1637103329853,"authorId":3546930995300503,"author":{"id":3546930995300503,"idStr":"3546930995300503","authorId":3546930995300503,"name":"BerySu","avatar":"https://static.tigerbbs.com/3c3802c0d320bab512162287a76a2688","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":871407380,"type":1,"supId":0,"prevId":0,"content":"is 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