Natuzzi S.p.A. (NYSE:NTZ), currently trading at $4.76 with a market capitalization of $55.79 million, announced that it will unveil its unaudited financial results for the first nine months and third quarter of 2024 on Thursday, December 12, after market close.
InvestingPro data shows the company has faced challenges with profitability over the last twelve months. The following day, Friday, December 13, at 10:00 a.m. Eastern Time, the company will host a conference call to discuss the financial information.
Interested participants can join the conference call by dialing the provided number and using the passcode or via a provided link for video access. Additionally, there will be an option to listen via phone after registering through the link.
A replay of the conference call will be made available approximately three hours after the conclusion of the live call and will remain accessible until January 13, 2025. The replay can be accessed by dialing the specified numbers and entering the provided access code.
Natuzzi, founded in 1959 and headquartered in Santeramo, Italy, is a well-known brand in the luxury furniture market, generating annual revenues of $351.28 million with a healthy gross margin of 37.77%.
The company distributes its products through a global network of stores and emphasizes its Italian design heritage and the craftsmanship of "Made in Italy." While the stock has seen a -25.18% decline year-to-date, InvestingPro analysis indicates the company is currently trading near its Fair Value.
Natuzzi has been publicly traded on the New York Stock Exchange since May 1993 and is committed to social responsibility and environmental sustainability, holding various ISO certifications and the FSC® Chain of Custody certification.
This information is based on a press release statement from Natuzzi S.p.A.
In other recent news, Italian furniture company Natuzzi S.p.A. reported a slight increase in sales and a major shift in its business model towards retail and brand management in its 2024 second quarter earnings call.
Despite challenging market conditions, the company achieved a 3% rise in brand sales, with retail sales now accounting for 70% of total sales, a 23 percentage point increase since 2019. In the U.S. market, Natuzzi saw substantial growth, with directly operated stores increasing sales by 33% and the opening of a new store in Denver.
The company's global presence has expanded to 681 stores, with a focus on enhancing partnerships and operational support, particularly in the Chinese market. Natuzzi is expanding its contract business with architectural designers and real estate developers, contributing to 20% of store revenues.
The company also improved its gross margin to 38.1%, due in part to reducing its workforce by 20% and increasing revenue per employee by 30%.
Natuzzi's future plans include the opening of an additional 43 gallery locations and 25 stores by year-end. The company is also enhancing its trade strategy and customer engagement through partnerships and digital tools. However, e-commerce, particularly for Natuzzi Editions in the U.S., has been identified as an area requiring improvement. These are the recent developments surrounding Natuzzi's business operations.
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