Beter Bed Holding NV announces strong Q1 sales, with upturn in online channel
Highlights first quarter:
- Q1 2020 sales increased by 8.0% to € 54.3 million, with like-for-like sales growth of 6.9%, with both Benelux and New Business contributing.
- Q1 2020 online sales increased by 29.6% to € 5.6 million, amounting to 10.3% of total sales.
- Order intake decreased by 2.0% over Q1 2020, following the COVID-19 outbreak, while the level until mid-March was 9% above last year.
- Discussing term sheet for extension of bank agreement with current banks. Expected to conclude in Q2 2020.
John Kruijssen, CEO of Beter Bed Holding, comments:
“We started the year 2020 strongly with a sales increase over the first quarter in both Benelux and New Business. Order intakes until mid-March were well above last year, but as can be expected, were affected by the different measures in the countries Beter Bed is active following the COVID-19 outbreak. At the same time, we are experiencing a tremendous step up in the growth pace of our online sales. Since the beginning of April order intake is exceeding last year’s numbers again.
Since the outbreak of COVID-19 we are actively adapting our businesses to the new reality. Moreover we are investing and putting more resources towards our online channel. We experience immediate effect of these investments through higher traffic, improved conversion and higher order intake above last year. In this uncertain period our focus continues to be the wellbeing of our employees, customers and other stakeholders. I am very impressed that our employees continue to sell and deliver our products and services to our valued customers. Our commitment to ‘offer quality sleep for everyone’ is even more important than ever before, and it is fantastic to see that our Company stands behind delivering this with full passion, even in these unprecedented times.
Following our restructuring last year we have come out smaller and healthier and the resilience, our business has shown, combined with our solid financial position, gives us confidence that Beter Bed Holding will be able to continue this journey to a prosperous future, despite the current temporary headwinds due to COVID-19.”
For the complete version of the press release please click on the link below. Press photos can be downloaded .
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