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French firm Maisons Du Monde raises FY21 outlook despite moderate Q3
01 Nov 21 2 min read
Third quarter (Q3) sales at Maisons Du Monde, a French furniture and home decor company marginally fell by 1.3 per cent to €317.3 million over the same period of prior fiscal. However, with strong cumulative sales in the first nine month of FY21, the company has raised its yearly guidance and expects top line growth in mid-teens compared to previous estimate of high single digit.
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“We are pleased with our nine-month performance, which demonstrates our ability to navigate through a volatile environment and execute our growth agenda. As expected, Q3 reflected a more normalised activity in our categories after a very strong third quarter last year,” Julie Walbaum, chief executive officer of Maisons du Monde, said in a press release.
During Q3 ended of September 30, 2021, the online sales decreased by 2.1 per cent to €88.7 million (€90.6 million), representing 28 per cent of the overall sales. Activity in France was strong with increases in orders and traffic by 35 per cent and 37 per cent, respectively.
The company-owned stores also recorded a minor drop in sales by 0.9 per cent to €228.5 million (€230.7 million). Store sales in France were down 5.7 per cent to €122 million representing 53 per cent of total store sales, while international store sales grew 5 per cent to €107 million.
“I am also pleased to announce new advances in line with our strategic and capital allocation priorities. We have reached an agreement to sell down our Modani stake from 70% to 15% so that we may devote our full attention to further enhancing the operational excellence of our European activities and consolidating our positions in our existing markets,” Walbaum said.
Fibre2Fashion News Desk (JL)
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