General World News

Casper, the buzzy mattress seller adored by millennials, has a costly returns problem that could be a nightmare for its IPO

Casper CEO Philip Krim speaks onstage during Day 1 of TechCrunch Disrupt SF 2018 at Moscone Center on September 5, 2018 in San Francisco, California.

  • Casper’s generous return policy on its mattresses is costing the company tens of millions of dollars, the company revealed recently in its initial public offering paperwork.
  • In the first nine months of last year, returns, refunds, and discounts cost Casper $80 million — or about 20 cents of every dollar in sales it took in during that period.
  • The company has also had to set aside increasing amounts of money as a reserve against future returns.
  • In part thanks to such costs, the company is operating in the red at a time when Wall Street is increasingly skeptical of read more >>>

    Source:: BusinessInsider.Com