French furniture retailer Maisons du Monde has upgraded its full year guidance following a strong third quarter as revenues rose by over a quarter.
According to its latest Q3 trading update, total customer sales grew by 25.1% to €204m (£182.1m), with like-for-like sales up by 13.6% year-on-year, as all businesses and geographies reported double-digit growth.
For the quarter, sales within its core French market grew by 21.1% to €128.5m (£114.7m), whereas international sales rose by 32.6% to €75.6m (£67.4m). Within its product category, furniture sales contributed €96.1m (£85.7m), an uptick of 25.2%, whilst both stores and online sales grew by 22% and 38.8% respectively.
For the year to date, total sales for the nine months to September rose to €594m (£530m), an increase of 27%, with like-for-like sales up by 15.6%.
Due to its strong performance, the group has revised its 2016 guidance, with sales expected to grow above 20% on 2015, compared to its initial guideline of 15% ranging between €800-815m, whilst like-for-like sales are forecast to grow beyond 10%.
Consolidated EBITDA margin is expected to be above 13.5% of Consolidated Customer Sales, versus a margin of 13% initially announced.
Gilles Petit, CEO, said: “I am especially pleased at how broadly based our performance has been in terms of both Decoration and Furniture as well as in each country where the group operates. We have continued to successfully implement our omnichannel strategy as planned. Our new collections are also off to a good start.
“We are upgrading our guidance for 2016 and we are fully confident that we will deliver on these new objectives.”