Maisons du Monde: First quarter 2024 Sales
May 16 2024 - 1:30AM
Maisons du Monde: First quarter 2024 Sales
PRESS RELEASENantes, 16 May
2024
First quarter sales 2024
Q1 2024 sales in line with
expectationsand consistent with 2024-2026
transformation plan assumptions
Launch of Inspire
Everyday action plan on track
-
Q1 2024 sales declined as anticipated, reflecting weak
consumption dynamics
-
Teams fully onboarded to deliver Inspire
Everyday journey, notably:
- Inspiration:
-
Three new pilot stores opened in Q1 (Rouen Barentin, Pau
and Hognoul) with a renewed concept and significant assortment
reduction, driving clear and positive customer
response
- Accessibility:
- Price reduction on targeted
c.2,200 products achieving expected uplift, with above 20% quantity
sold, validating pricing strategy
-
Sustainability:
-
Second Chance offering rolled out in
stores, supporting Maisons du Monde’s brand
attractivity
-
Local empowerment throughout store network:
-
Store performance tool rolled out across Europe to provide
real-time commercial performance analytics on the sales floor to
drive business
-
Affiliation model delivering positive results
- 2024-2026
trajectory presented March
12th:
- 2024: a
pivotal year to transform the commercial model and lay the
foundations for growth
- Progressive
return to topline growth in 2025-2026
- Cumulative
FCF above €100 million over 3 years
AUDIO WEBCAST FOR
INVESTORS AND
ANALYSTS
Presentation in English.
Date: 16 May 2024 at 9:00 am CET
Speakers: François-Melchior de Polignac, CEO / Denis Lamoureux,
CFO / Gilles Lemaire, Deputy CFOConnection details:
- Webcast:
https://edge.media-server.com/mmc/p/8veje98t
- Conference call:
https://register.vevent.com/register/BIe29a2aadf0ba49818dc0e5451626d637
Q1 SALES DETAILS
|
Q1 2024 |
Q1 2023 |
%Change |
(in EUR million) |
Group GMV |
284.3 |
307.1 |
-7.4% |
Sales |
247.7 |
273.7 |
-9.5% |
Like for like and excluding UK |
240.7 |
261.8 |
-8.1% |
Sales by product
category |
|
|
|
Decoration |
138.0 |
155.7 |
-11.4% |
% of sales |
55.7% |
56.9% |
|
Furniture |
109.7 |
118.0 |
-7.1% |
% of sales |
44.3% |
43.1% |
|
Sales by
channel |
|
|
|
Stores |
176.3 |
196.0 |
-10.1% |
% of sales |
71.2% |
71.6% |
|
Online |
71.4 |
77.7 |
-8.2% |
% of sales |
28.8% |
28.4% |
|
Sales by
geography |
|
|
|
France |
135.7 |
148.0 |
-8.3% |
% of sales |
54.8% |
54.1% |
|
International |
112.0 |
125.8 |
-10.9% |
% of sales |
45.2% |
45.9% |
|
In Q1 2024, Group sales
amounted to €247.7 million, down 9.5% year-on-year (-8.1% Lfl and
excluding UK), on track with expectations notably given weak
overall consumption dynamics.
Online sales amounted to €71.4
million, decreasing by 8.2% year-on-year (-6.5% on a Lfl basis and
excluding UK online activities which ceased at the end of Q2 2023).
Marketplace continued to show strong growth, notably driven by
Spain, Italy and Germany still ramping up and showcasing local
brands.
Store sales were down 10.1%
year-on-year at €176.3 million (-8.4% Lfl).
The store network at the end of March 2024
reached 337 own stores and 5 affiliates compared to 352 own stores
as at end of March 2023.
Decoration sales declined by
11.4% to €138.0 million. Conversely, Furniture
sales showed stronger resilience with sales of €109.7
million (-7.1% yoy), boosted by product availability, promotional
initiatives, free shipping for online orders and buy now-pay
later.
Geographically, sales in France
amounted to €135.7 million (-8.3% yoy and -7.5% Lfl).
International sales reached €112.0 million (-10.9%
yoy and -8.8% on a Lfl basis and excluding UK online activities
which ceased in Q2 2023), with Italy performing better notably
thanks to marketplace growth. The underperformance in Switzerland
sales relative to the rest of the Group has been successfully
addressed through targeted pricing adjustments.
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.
Financial calendar
21 June
2024 Annual
General Meeting
29 July
2024 Half-Year
2024 Results
23 October
2024 Q3
2024 Sales
About Maisons du Monde
Maisons du Monde is the leading player in
inspiring, accessible, and sustainable home and decoration. The
Brand offers a rich and constantly refreshed range of furniture and
decorative items in a multitude of styles. Leveraging a highly
efficient omnichannel model and direct access to consumers, the
Group generates over 50% of its sales through its online platform
and operates in 10 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 |
- 2024.05.16 MdM Presse Release_Q1 24 Sales_FOR RELEASE_
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