Maisons du Monde slips as expects sales growth only from 2025

Maisons du Monde SA

12/03/2024 09:00

** Shares in Maisons du Monde  MDM.PA  slip around 4% after
the French home decor retailer said it planned to close 40-50
stores and franchise about 30% of its network by 2026
    ** The company said the 2024 would be a year to transform
its model into a more asset-light operator and it expects a
progressive return to sales growth in 2025-26
    ** "2024 will remain under pressure," says Midcap Partners,
adding it might disappoint the consensus, as the broker was the
only one to target a decline in 2024
        ** The company reported 2023 sales down 9.3% y/y, in
line with its guidance
  
    ** The stock is down about 27% YTD and hovers near all-time
lows it hit last week 

 (Reporting by Dimitri Rhodes)
 ((Dimitri.Rhodes@thomsonreuters.com))