Beter Bed Holding N.V. : More turbulent times expected ahead, but € 5 TP and Neutral reiterated
>Sales growth and order book development fell short in H1 2022 - Beter Bed’s like-for-like sales growth decreased by 3.7% in Q2 2022, which was materially worse than our forecast. Online sales decreased by 25% in Q2 2022, but this predominantly reflected a normalisation of the channel, in our view. Both the Benelux operations and the New Business division fell short on sales. Beter Bed’s order intake and end-of-quarter order book fell materially short, which does not ...Beter Bed Holdings is a holding company. Through its subsidiaries, Co. operates in the European bedroom furnishings market and offers mattresses, box springs, bed bases, bedroom furniture, bed textiles and other related items. Co.'s activities include retail trade through 1,159 stores that operate via the chains Beter Bed (active in the Netherlands), Matratzen Concord (active in Germany, the Netherlands, Austria, Switzerland, Belgium and Poland), El Gigante del Colchon (active in Spain), BeddenREUS, Dormaeel and Slaapgenoten (all three active in the Netherlands) and MAV (active in Germany). Co. is also active in developing and selling branded products in the bedroom furnishings sector.
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