Maisons du Monde Reports First Quarter 2024 Sales Performance

Maisons du Monde disclosed its Q1 2024 financial results, showing a 9.5% decrease in sales year-on-year, amounting to €247.7 million. This decline aligns with the company's expectations amid a weak consumption environment.

The company highlighted its Inspire Everyday action plan is well underway, featuring pricing strategies resulting in a positive uplift of over 20% in quantities sold across approximately 2,200 products. Additionally, the implementation of new pilot stores and a "Second Chance" offering have been met with favorable customer reactions.

Sales distributions indicate a greater impact in Decoration categories, with a notable 11.4% decrease to €138.0 million. Furniture, however, showed relative resilience, down by 7.1%. Sales channels saw a 10.1% decrease in stores and an 8.2% decline online, with online activity in Spain, Italy, and Germany showing potential due to marketplace growth.

Geographically, the French market, comprising 54.8% of total sales, decreased by 8.3% to €135.7 million, while international sales fell by 10.9% to €112.0 million. Efforts in Italy to expand the marketplace have shown promising signs of success despite broader international challenges.