MAISONS DU MONDE: FOURTH-QUARTER AND FULL-YEAR 2023 TRADING UPDATE
January 25 2024 - 12:00AM
MAISONS DU MONDE: FOURTH-QUARTER AND FULL-YEAR 2023 TRADING UPDATE
PRESS
RELEASENantes, 25 January 2024
FOURTH-QUARTER AND FULL-YEAR 2023 TRADING
UPDATE
Q4 sales down -7.9%, marking sequential
improvementvs preceding 9 months in a persistently
challenging environment
Full-Year sales at -9.3%, vs c.-10%
adjusted guidance
- Group GMV: Q4
at €367.9m (-5.5% yoy), FY at €1,263.9m (-5.5% yoy)o/w
Marketplace GMV: Q4 at €49.4m (+24.4% yoy), FY at €176.9M (+45.7%
yoy)
- Group sales:
Q4 at €329.6m (-7.9% yoy), FY at €1,125.4m (-9.3%
yoy)
-
FY 2023 adjusted guidance on EBIT and FCF
confirmed
SALES DETAILS
|
Q4 2023 |
Q4 2022
|
%Change |
FY 2023 |
FY 2022 |
%Change |
(in EUR million) |
|
Group GMV |
367.9 |
389.1 |
-5.5% |
1 263.9 |
1 337.1 |
-5.5% |
Sales |
329.6 |
358.0 |
-7.9% |
1 125.4 |
1 240.4 |
-9.3% |
Sales by product
category |
|
|
|
|
|
|
Decoration |
215.2 |
240.3 |
-10.5% |
648.2 |
719.8 |
-9.9% |
% of sales |
65.3% |
67.1% |
|
57.6% |
58.0% |
|
Furniture |
114.5 |
117.8 |
-2.8% |
477.2 |
520.6 |
-8.4% |
% of sales |
34.7% |
32.9% |
|
42.4% |
42.0% |
|
Sales by
channel |
|
|
|
|
|
|
Stores |
250.8 |
274.9 |
-8.7% |
815.7 |
880.9 |
-7.4% |
% of sales |
76.1% |
76.8% |
|
72.5% |
71.0% |
|
Online |
78.8 |
83.2 |
-5.3% |
309.6 |
359.6 |
-13.9% |
% of sales |
23.9% |
23.2% |
|
27.5% |
29.0% |
|
Sales by
geography |
|
|
|
|
|
|
France |
192.7 |
204.4 |
-5.7% |
622.9 |
663.8 |
-6.2% |
% of sales |
58.4% |
57.1% |
|
55.3% |
53.5% |
|
International |
137.0 |
153.6 |
-10.8% |
502.5 |
576.6 |
-12.9% |
% of sales |
41.6% |
42.9% |
|
44.7% |
46.5% |
|
SAVE THE DATE – UPCOMING EVENT
- 12 March 2024:
Presentation of FY 2023 results and medium-term transformation
plan
MARKET TREND AND BUSINESS HIGHLIGHTS
Q4 discretionary consumption remained sluggish
throughout Europe amid fluctuant inflation and volatile consumer
confidence.
Maisons du Monde invested commercially to face
this context and to sustain Q4 sales.The Group also strengthened
the execution of its 3C Plan (Customers, Costs and Cash) with a
strong focus on omnichannel Customer experience through new and
distinctive initiatives:
- participating in Black Friday for
the first time, offering attractive discounts, and recording the
highest daily sales ever,
- sharing special events tailored for
the most loyal customers, providing a unique shopping experience,
to discover new collections, along with gifts and exclusive
advantages,
- introducing the Second Chance
initiative in-store, with second-hand or damaged Maisons du Monde
products. This initiative, aligned with Maisons du Monde’s CSR
commitment, Good is beautiful, received the R-Award Circular
Economy from le Collectif Génération Responsable.
The Group continued its proactive store
portfolio management, reporting 4 net closures and 2 transfers to
affiliation during the period. At the end of December 2023, the
store portfolio reached 340 own stores including 18 net closures
and 5 affiliated stores, as anticipated. This reflects Maisons du
Monde’s commitment to effective capital allocation and a
disciplined cash management approach.
Q4 TRADING UPDATE
In Q4 2023, Group sales reached
€329.6 million, reflecting a year-on-year decline of -7.9%, marking
a sequential improvement compared to the previous 9 months.
Online sales amounted to €78.8
million, experiencing a slight decrease of -5.3% year-on-year.
Leveraging the Black Friday momentum significantly helped to
improve online trend compared to the previous periods. Marketplace
in France, Spain, Italy and since Q3 in Germany showed strong
growth (online GMV Marketplace: +24%).
Store sales were down -8.7%
year-on-year at €250.8 million, with France achieving a
comparatively better performance than other geographies. Increased
products availability and appealing commercial initiatives led to
improved conversion rates.
Decoration sales declined by
-10.5% (€215.2 million). On the other hand, Furniture
sales performed better at -2.8% (€114.5 million) boosted
by product availability, promotional initiatives, free shipping and
free installment payments.
Geographically, sales in France
amounted to €192.7 million and continued to demonstrate relative
resilience (-5.7% yoy) notably thanks to the implementation of
first local marketing and merchandising initiatives.
International sales totaled
€137.0 million (-10.8% yoy), also experiencing a sequential
improvement compared to the previous 9 months. Despite some
improvement, Germany remained the least performing market whilst
the Iberian Peninsula showed the most dynamic trend.
FINANCIAL CALENDAR
12 March 2024 FY
2023 results and medium-term transformation plan
Disclaimer:
Forward Looking
Statement
This press release contains certain statements
that constitute "forward-looking statements," including but not
limited to statements that are predictions of or indicate future
events, trends, plans or objectives, based on certain assumptions
or which do not directly relate to historical or current facts.
Such forward-looking statements are based on management's current
expectations and beliefs and are subject to a number of risks and
uncertainties that could cause actual results to differ materially
from the future results expressed, forecasted or implied by such
forward-looking statements. Accordingly, no representation is made
that any of these statements or forecasts will come to pass or that
any forecast results will be achieved. Any forward-looking
statements included in this press release speak only as of the date
hereof and will not give rise to updates or revision. For a more
complete list and description of such risks and uncertainties,
refer to Maisons du Monde’s filings with the French Autorité des
marchés financiers.
About Maisons du Monde
Maisons du Monde, a uniquely positioned and
beloved brand across Europe, stands as the European leader in
inspirational and affordable home & living. It offers a wide
and constantly renewed range of furniture and home accessories
across multiple styles. Creativity, inspiration and engagement are
the brand’s core pillars. Leveraging its distinctive
direct-to-consumer omnichannel model, the company generates over
50% of its sales digitally, through its online platform and
in-store digital sales and operates stores in 9 European
countries.”
corporate.maisonsdumonde.com
Contacts
Investor Relations |
Press Relations |
Carole Alexandre Tel: (+33) 6 30 85 12 78 |
Pierre Barbe Tel: (+33) 6 23 23 08 51 |
calexandre@maisonsdumonde.com |
pbarbe@maisonsdumonde.com |
- 2024 01 25 Q4-FY 23 Sales_EN_FOR RELEASE
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