Maisons du Monde slips as new CEO opens a 'period of uncertainty'

Maisons du Monde SA

26/01/2023 09:02

** Shares in Maisons du Monde  MDM.PA  fall around 3% after
the French home decor retailer appointed a new CEO - a change
"that opens a new period of uncertainty" according to Bryan
Garnier's analyst Clement Genelot
     ** The group appoints Francois-Melchior de Polignac to
replace Julie Walbaum as CEO
    ** "Regaining confidence will take time while everyone will
now be waiting for a likely new strategic plan and fearing a
potential "kitchensinking" by then", Genelot says
    ** "This decision probably follows the loss of investor
confidence in the group's communication after the last profit
warning", Florent Thy-Tine, analyst at MidCap, adds
    **  In May, Maisons du Monde cut its FY guidance; on
Wednesday, it posted a 5% decline in 2022 sales to 1.24 billion
euros ($1.35 billion) 
    ($1 = 0.9168 euros)
 (Reporting by Diana Mandiá)
 ((diana.mandiaalvarez@thomsonreuters.com))