March 19, 2018 / 7:53 AM / a month ago

Ikea rival Home24 trims losses as it eyes listing​

BERLIN, March 19 (Reuters) - German online retailer Home24, which wants to challenge IKEA’s dominance of the European furniture market, accelerated sales and trimmed its losses in the fourth-quarter after sources reported it is considering a stock market listing.

Home24, in which ecommerce investor Rocket Internet holds a 43 percent stake, said quarterly sales rose 21 percent to 80 million euros ($98 million), while its gross profit margin rose 1 percentage point to 46 percent.

Launched in 2009 in Berlin, the firm delivers furniture in seven European markets, plus Brazil. It said on Monday that its Latin American region was the first to reach breakeven in the fourth quarter. ($1 = 0.8150 euros) (Reporting by Emma Thomasson Editing by Tom Sims)

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