Brief: Maisons Du Monde Cuts FY Guidance

Maisons du Monde SA

27/05/2022 06:37

May 27 (Reuters) - Maisons du Monde SA  MDM.PA :
    * ANNOUNCED ON THURSDAY UPDATED FY GUIDANCE: TOP LINE GROWTH
MID-SINGLE-DIGIT NEGATIVE
    * UPDATED FY GUIDANCE: EBIT MARGIN 5% OR ABOVE
    * UPDATED FY GUIDANCE: FCF EUR 10 MILLION TO EUR 30 MILLION 
    * ON 4 MAY 2022 CO ANNOUNCED SLOW START TO YEAR BUT
CONFIRMED ITS
FY GUIDANCE ASSUMING NO FURTHER DETERIORATION OF MACRO-ECONOMIC
AND SUPPLY CHAIN CONDITIONS
    * THESE CONDITIONS HAVE MATERIALLY WORSENED OVER LAST FEW
WEEKS
AND CO'S Q2 IS NOW EXPECTED TO BE HIGH SINGLE DIGIT NEGATIVE
    * DESPITE SOFT DEMAND, GROUP IS DETERMINED TO SUPPORT SALES
DEVELOPMENT THROUGH SHORT-TERM AND MIDTERM ACTION PLANS
    * IT IS ALSO COMMITTED TO PROTECT PROFITABILITY THROUGH
RIGOROUS
COST CONTROL, WHILE ADVANCING ON MID-TERM AGENDA
    * IT PLANS TO MAINTAIN INVESTMENT IN STRATEGIC INITIATIVES
SUCH AS
OPENING OF 2ND LOGISTICS CENTRE AND DEPLOYMENT OF MARKETPLACE
    * GROUP ALSO PLANS TO KEEP ACTIVELY REBUILD INVENTORIES TO
SUPPORT
FUTURE SALES WHILE MANAGING SOURCING CONSTRAINTS
    * MAISONS DU MONDE STAYS CONFIDENT IN PROFITABLE GROWTH
MODEL
DETAILED IN CONTEXT OF CAPITAL MARKETS DAY OF NOVEMBER 2021
    * STRATEGIC PLAN DISCLOSED ON THAT OCCASION REMAINS FULLY
VALID,
ALTHOUGH TIMING FOR REACHING 2025 TARGETS MAY BE EXTENDED
    

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nGNE6fg81G
    
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