Categories: Business

Shocking treatment for Maison du Monde, after disappointing results

Maisons du monde cannot escape the darkness surrounding consumption. Present in nine European countries, sales of the furniture and decorative items brand fell 9.3% to 1.13 billion euros in 2023. The decline in its turnover was more marked internationally (- 12.9%) than in France (- 6.2%). And stronger in decorative items (-9.9%), where the group achieves 57.6% of its sales, than in furniture (-8.4%). The results: net profit divided by three in one year, 8.8 million euros compared to 34.2 million in 2022 – it was already divided by two that year.

“I am not going to hide behind external factors to explain our disappointing results, even if our activity is not favored by the macroeconomic context”Maisons du monde general director, François-Melchior de Polignac, made the comments on Tuesday March 12 during the presentation of the brand’s new strategic plan for 2024-2026, called Inspire Everyday.

“We were probably too optimistic” After historic post-Covid results, and “Highly focused on expansion and investment”Instead “Operational Execution and Customers”He adds that after spending twenty-two years with the mass distribution group Carrefour, he succeeded Julie Wallbaum in March 2023, in this position since 2018.

Also Read | Articles are reserved for our subscribers Bad luck for the home appliance market

So the economic and financial situation needs immediate shock treatment. To relaunch a group whose turnover has been declining for the second year in a row: 25% reduction in assortment, cost reduction of 2,000 products, rationalization of the store network to eliminate sources of loss, and use of other, less capital-intensive store operating methods, such as alliances or franchises. The group announced “40 to 50 store close-transfers by 2026 and about 30% in network franchise affiliation”. At the end of 2023, Maisons du Monde owned 340 stores, after selling eighteen points of sale, five of which were transferred to affiliates.

Listed on the stock exchange, distributors of furniture and decorative items took care to specify in the second step that“In any case forty to fifty shops are not net closed”But no “Relocation and closure of stores over a three-year period in line with the normal rhythm of the network’s life” Distribution, along with the renegotiation of its rents, the movement of its points of sale from the city center to commercial activity zones… The brand adds that the implemented strategic plan will increase their number to 400 in 2026, “While maintaining the practical cleanliness of the park”

.

You have 41.25% of this article left to read. The rest is reserved for subscribers.

Source link

Admin

Share
Published by
Admin

Recent Posts

100 million degrees for 48 seconds: South Korea’s ‘artificial sun’ moves closer to nuclear revolution

This is a new record that scientists from the Korea Fusion Energy Institute (KFE) have…

8 months ago

The report offers solutions for insurers facing future growth in natural disasters

Damages associated with drought, floods, hail and other increasingly violent events are expected to increase…

8 months ago

You still have time to claim this exciting investigation

An estimated 9 million people in the United States are still waiting for their final…

8 months ago

IDF recognizes “serious mistake” in killing seven members of NGO World Central Kitchen

The death of seven humanitarian workers from the American NGO World Central Kitchen in an…

8 months ago

Fortnite Shop Apr 3, 2024 – Fortnite

Today, at one o'clock in the morning, Gamer updates it Boutique de Fortnite Through the…

8 months ago

Sharon Stone tried to make a Barbie movie in the 1990s

The Basic Instinct and Casino actress looks back at a time in Hollywood when adapting…

8 months ago