Dutch furniture group Beter Bed Holding has reported a growth in third quarter sales as it continues to implement its strategic plan.
According to its latest trading update, Q3 sales rose 0.9% to €54.9m, with year-to-date revenues rising 3.9% to €173.3m.
Beter Bed said that online sales for the quarter were down 0.5% to €9.3m, representing 16.9% of overall sales.
Like-for-like order intake during the period rose 9.5%, resulting in an order book of €21.9m, up 10.1%, while New Business sales in Q3 jumped 13.9% to €3.1m.
“Beter Bed and Beddenreus have shown a slight increase in sales(+0.2%), while like-for-like order intake for the third quarter was strong at +9.7%. Beter Bed has won the ‘ABN AMRO Best Webshop Award’ once again in the Netherlands. Furthermore, the build of a third Beter Bed Experience store has started with the new store opening in Baarn, the Netherlands planned for Q4 2023,” the group said.
“DBC recorded a strong third quarter, with sales up by 13.9% compared with Q3 2022. DBC launched the new Simmons and Karlsson collections at ‘Hollandsch Slapen’ and ‘DWI’ furniture fairs, showcasing their commitment to offering premium and diverse bedding solutions. DBC also completed the rollout of the M line Cool Motion collection across its dealer network, setting new standards in comfort and technology. Furthermore, the Wave by M line mattress earned the second place for the best mattress at the Dutch ‘Consumentenbond’.”
John Kruijssen, CEO, comments: “In a time marked by continued macro-economic challenges and low consumer confidence, we continue to build out our business on the backbone of the importance of sleep for consumers, with strong retail and private label brands, another experience store to be opened and the further development of our online and wholesales activities.
“A number of our suppliers experienced supply chain challenges, impacting our sales growth in Q3. New Business saw an increase in order intake at the end of the second quarter, resulting in strong third quarter sales. All in all, sales over the third quarter were up slightly, while like-for-like order intake was strong with +9.5% compared with the same quarter last year.
“Looking ahead, with the offer from Torqx launched on 4 October 2023, we took another important step in the public offer process. We recommend our shareholders to tender their shares under the offer, and look forward to working together with Torqx to best capture the sustainable long-term success of our business in the future.”
