In This Article:
PRESS RELEASE
Nantes, 16 May 2024
First quarter sales 2024
Q1 2024 sales in line with expectations
and consistent with 2024-2026 transformation plan assumptions
Launch of Inspire Everyday action plan on track
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Q1 2024 sales declined as anticipated, reflecting weak consumption dynamics
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Teams fully onboarded to deliver Inspire Everyday journey, notably:
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Inspiration:
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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
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Accessibility:
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Price reduction on targeted c.2,200 products achieving expected uplift, with above 20% quantity sold, validating pricing strategy
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Sustainability:
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Second Chance offering rolled out in stores, supporting Maisons du Monde’s brand attractivity
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Local empowerment throughout store network:
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Store performance tool rolled out across Europe to provide real-time commercial performance analytics on the sales floor to drive business
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Affiliation model delivering positive results
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2024-2026 trajectory presented March 12th:
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2024: a pivotal year to transform the commercial model and lay the foundations
for growth -
Progressive return to topline growth in 2025-2026
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Cumulative FCF above €100 million over 3 years
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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 CFO
Connection details:
Q1 SALES DETAILS
|
| Q1 2024 | Q1 2023 | % |
| (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 |
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|
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| 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% |
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| Sales by channel |
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| 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% |
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| Sales by geography |
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| France | 135.7 | 148.0 | -8.3% |
| % of sales | 54.8% | 54.1% |
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| International | 112.0 | 125.8 | -10.9% |
| % of sales | 45.2% | 45.9% |
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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.