Furnishings group performing in line with expectations

Luxury interiors and furnishings group Sanderson Design has reported that trading remains in line with Board expectations for the full year.

According to its latest trading update detailed in its Annual General Meeting (AGM), the group said that its licensing division has performed strongly following the recent deals secured with Next and Sainsbury’s.

Dianne Thompson, the Chair of Sanderson Design Group, commented: “Licensing has continued to perform strongly in the current year with the announcement of major licensing deals with NEXT and Sainsbury’s in February and March respectively, mitigating the continued uncertainty in the UK consumer environment which has impacted UK brand sales and had a knock-on effect on manufacturing.

“The US, a major focus for the Company, continues to trade positively. Along with the executive management team, I recently attended New York’s Design Week, visiting our showroom in New York and meeting designers and customers. I was very encouraged by their feedback. The recent launch in the US of Morris & Co. outdoor performance fabrics was well received and, whilst these collections will be made available globally, we see particular potential for them in the US.

“European markets are beginning to show signs of improvement, particularly in the south of Europe, and the Middle East is also performing well.

“In terms of upcoming launches, we are excited by Harlequin’s Sophie Robinson collaboration and by the Disney Home x Sanderson, vintage-inspired launch in the autumn.

“The Company continues to trade in line with Board expectations for the full year, and has a robust net cash position. We have a strong portfolio of brands, an exciting pipeline of product and licensing opportunities and we continue to benefit from our business mix, which is currently being led by the strength of our licensing activities. We look forward to providing a further update on trading in the half year to 31 July 2023 on 8 August 2023.”

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