Beter Bed Holding : Top line disappointing in Q3 2021, but update on cost control reassuring
>€ 56.5m in sales in Q3 2021, some 7% shy of our forecast - Beter Bed reported net sales of € 56.5m in Q3 2021, lower than our forecast of € 61m. Benelux operations reported revenue of € 52.4m (+1.5%), below our forecast of € 57.8m. The company pointed out that the same period of last year had been very strong. Online sales grew by 14.6% in the Benelux in Q3. Management was able to mitigate the recent higher commodity prices via product mix, forward buying and more a...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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