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