Showroomprivé Q1 net revenues drop 2.3 percent

European online retailer Showroomprivé reported 2.3 percent drop in net revenues to 147.3 million euros (165.5 million dollars) in the first quarter of 2019 and 1.7 percent adjusted for the closing of business in Germany, Poland and the multi-currency website. Total Internet revenues also declined by 1.2 percent.

“We continued to implement our ambitious ‘Performance 2018-2020’ plan during the quarter. Withdrawal from certain countries (Germany, Poland) naturally impacted growth, especially given the persistently sluggish economy and a difficult February for consumption in particular. In this context, we remain more focused than ever on implementing our growth and profitability drivers, our main objective over the plan horizon,” said Showroomprivé co-founders and co-CEOs Thierry Petit and David Dayan in a statement.

The company said, business levels grew in France, which offset the slight decline in international business due to economic conditions in Belgium, Spain, Italy and Portugal. Performance in France was driven by repeat buyers, who account for 90 percent of sales, an increase of 3 points compared to the first quarter of 2018. The company added that the brand continued to attract new customers, nearly 200,000 over the period, which now brings the total number of buyers to 9.2 million.

Picture:Showroomprivé media library