May 23, 2020 / 8:19 PM / 2 days ago

BRIEF-Natuzzi SpA Says Q4 Sales Fell 12.7% To 100.6 Mln Euros

May 23 (Reuters) - Natuzzi SpA:

* Q4 OPERATING LOSS -3.0 MILLION EUR

* Q4 SALES FELL 12.7 PERCENT TO 100.6 MILLION EUR

* GROUP NOW DIRECTLY OPERATES 56 MONO-BRAND DOS

* ON A LIKE-FOR LIKE BASIS, REVENUES OF 45 DOS WERE UP 4.2% IN 2019, WHILE THEY DECREASED BY 1.0% IN Q4 OF 2019

* NATUZZI- IN LIGHT OF TARIFFS IMPOSED BY U.S. ON GOODS IMPORTED FROM CHINA, CO STARTED TO OUTSOURCE IN VIETNAM PART OF ITS PRIVATE LABEL PRODUCTION

* Q4 2019 CONSOLIDATED GROSS MARGIN WAS 31.9%, UP FROM 27.4% IN 2018 SAME QUARTER

* GROUP REPORTED A QTRLY OPERATING LOSS OF EUR 3.0 MILLION, VERSUS AN OPERATING LOSS OF EUR 8.9 MILLION IN 2018 LAST QUARTER

* LOSS FOR Q4 WAS EUR 6.9 MILLION

* ONGOING PANDEMIC EXPERIENCE IS LIKELY TO LEAD TO AN INCREASING FOCUS ON OMNI-CHANNEL SALE APPROACH

* QTRLY LOSS PER ORDINARY SHARE WAS 0.12 EURO Source text for Eikon: Further company coverage:

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