Casper Provides Business Update On COVID-19

NEW YORK--(BUSINESS WIRE)--Casper Sleep Inc. (“Casper” or the “Company”) (NYSE: CSPR) today provided an update on its North America retail store operations in response to the continued spread of COVID-19.

In light of the rapidly changing developments, Casper announced the temporary closure of all its retail stores in North America, from March 17, 2020 through March 27, 2020. Retail store employees will be paid for all scheduled hours during this closure.

“Our top priority is to do the right thing for the health and safety of our employees and customers,” said Philip Krim, Chief Executive Officer. “This is an unprecedented time and we have elected to close our Casper Sleep Shops following the guidance of public health authorities. We’re committed to the safety of our community.”

This temporary closure does not affect the Company’s online operations where customers can continue to shop on casper.com.

The Company will provide an update regarding the impacts of COVID-19 during its fourth quarter fiscal 2019 earnings call, expected to be held at 8:00 am Eastern time on March 19, 2020.

The Company will continue to re-evaluate these procedures along with the latest developments related to COVID-19.

About Casper:

Casper is a global Sleep Company. The Company has a full portfolio of obsessively engineered sleep products—including mattresses, pillows, bedding, and furniture—designed in-house by the Company’s award-winning R&D team at Casper Labs in San Francisco. In addition to its global ecommerce business, Casper owns and operates 60 Sleep Shops across North America and its products are available at a growing list of retailers.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the timing of our earnings release and conference call for the fourth quarter and full year 2019 and our plans regarding the closure of our retail stores in North America. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual plans, results, performance or achievements to be materially different from any future plans, results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the impact of COVID-19 and the related effect on our employees, customers and business operations and the other important factors discussed in our prospectus filed in connection with our initial public offering and our other filings with the Securities and Exchange Commission. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.