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Stock impact report

Natuzzi Shareholder Letter and Financial Results 2024 – First Quarter Results [Yahoo! Finance]

Natuzzi, S.p.A. (NTZ) 
US:NYSE Investor Relations: natuzzigroup.com/en-en/ir/investors.html
Company Research Source: Yahoo! Finance
In 1Q 2024, Sales From Directly Operated Stores Were €20.5 Million, up 13.6% From 1Q 2023 and 10.0% From 1Q 2022, Confirming Our Focus on Strengthening Direct Retail. In North America, DOS Sales Grew 29.8% From 1Q 2023 and 32.4% From 1Q 2022, Highlighting Our Commitment to Regional Retail Growth, Especially for Natuzzi Italia. Improved 1Q 2024 Gross Margin at 36.9%, Compared to 35.6% in 1Q 2023, 34.3% in 1Q 2022 and 30.1% Versus the Pre-COVID Level of 1Q 2019. 1Q 2024 Operating Profit of €0.6 Million Compared to an Operating Loss of (€0.9) Million in 1Q 2023 and (€3.0) Million Versus the Pre-COVID Level of 1Q 2019. Net Finance Costs of (€2.2) Million, Compared to Net Finance Costs of (€3.4) Million in 1Q 2023. Finance Costs Negatively Affected by Persisting High Interest Rates. In 1Q 2024 We Continued Our Restructuring With a Reduction of 94 Headcount as Part of Our Long-Term Transformation Process to Increase Competitiveness and Enhance Margin Generation. Total Headcount Red Show less Read more
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