CORRECTED-Maisons du Monde lowers sales growth guidance

(Corrects to remove reference to company having previously lowered its sales growth target in March.)

July 30 (Reuters) – French furniture and home decor retailer Maisons du Monde cut its sales growth target for 2018 on Monday, reflecting a softer trading environment in France and a delay in store openings.

- Advertisement -

It now expects sales growth of around 8 percent, down from a previous target of 10 percent, set in March.

It also said it would open 19 stores this year, against a previous forecast of 25-30, with six store openings originally scheduled for 2018 now delayed until the first quarter of 2019.

CEO Julie Walbaum said on a call with media that store openings were affected by rental contract delays.

The company reiterated its EBITDA margin guidance seen above 13 percent of sales, including the integration of Modani, the U.S. furniture chain it acquired this year. (Reporting by Camille Raynaud; Editing by Susan Fenton/Adrian Croft)

Our Standards:The Thomson Reuters Trust Principles.


- Advertisement -