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French home décor brand Maisons Du Monde posts Q3 sales of €317 mn

05
Nov '21

Pic: Maisons Du Monde

Maisons Du Monde, a European leader in affordable and inspirational home and living, has reported a 1.3 per cent decline in sales to €317.3 million during the third quarter (Q3) of FY21 ended on September 30, 2021, over the same period of last fiscal. Also, the online sales for the three-month fell 2.1 per cent to €88.7 million ($90.6 million) compared to the strong performance in Q3 of 2020.

“As expected, Q3 reflected a more normalised activity in our categories after a very strong third quarter last year. With double-digit growth compared to 2019, our performance attests to the continued strength of our brand and offering, as well as the relevance of our pan European omnichannel model,” Julie Walbaum, chief executive officer of Maisons du Monde, said in a press release.

Geographically, sales from France in Q3 fell 3.3 per cent to €164.1 million (€169.8 million), whereas international sales grew 1.1 per cent to €153.2 million (€236.8 million).

In its outlook, Maisons Du Monde said that it expects top line year-on-year sales growth in the low teens during FY21, up from previous forecast of high single digit growth.

“Against this backdrop, and despite continuing uncertainty linked to the global health situation and supply chain disruptions, we are revising upwards our full-year guidance to double-digit top line growth with an EBIT margin between 9 and 9.5 per cent,” Walbaum said. “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 per cent to 15 per cent 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.”

Fibre2Fashion News Desk (JL)

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