Miliboo: quarterly sales down, share price declines

(CercleFinance.com) - Last night, Miliboo reported a 6.
3% drop in second-quarter sales, penalized by a high basis of comparison and a market judged to be "demanding", an announcement that sent the share price plummeting.

The share price of the digital home furnishings brand was down around 6% on the Paris market by mid-day Friday, one of the day's biggest declines.

Miliboo announced sales of 11 million euros for the 2nd quarter of its 2023-2024 financial year, which ended at the end of October, compared with 11.8 million a year earlier.

The company points out that it had to cope with a particularly unfavorable base effect, given the strong growth in its activity over the same period last year (+26%).

Despite this "one-off" slowdown in activity, half-year sales came to 21.7 million euros, up 1.7%, a new half-year record for the company in a furnishings market nevertheless judged to be "sluggish".

For the second half of the year, Miliboo says it intends to focus on maintaining a high gross margin rate, while remaining vigilant about the availability of its 'best-sellers' before Christmas and the 2024 sales.

The company also plans to open a new physical boutique by the end of the year, bringing the number of showrooms in France to four.

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