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H1 FY20 online sales for Maisons Du Monde jump 25%

Jul '20
Pic: Maisons Du Monde
Pic: Maisons Du Monde
Maisons Du Monde, a French furniture and home decor company, has reported 13.3 per cent sales decrease to €488.9 million in its first half (H1) fiscal 2020 ended on June 30, 2020 compared to the sales of €564.0 million in same period last year. However, online sales for the six-month period grew 24.9 per cent to €185.9 million (H1 FY19: €148.9 million).
“Maisons du Monde’s first-half performance reflects the comprehensive Covid-19 action plan we swiftly implemented to mitigate the effects of the pandemic on EBITDA and free cash flow. The adaptability and resilience of our omnichannel model led to a better than expected Q2 performance,” Julie Walbaum, Chief Executive Officer of Maisons du Monde, said in a press release.
Company’s EBITDA slipped 29.0 per cent to €68.8 million (€97.1 million). Gross margin for the period were €313.4 million (€360.7 million). Net financial expense registered a loss of €9.6 million compared to €10.8 million during H1 FY19.
Regionally, sales in France during H1 FY20 fell 18.0 per cent to €252.1 million (€307.5 million). While international sales were down 7.7 per cent to €236.8 million (€256.6 million).

Fibre2Fashion News Desk (JL)

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