Showroomprivé Q3 sales decline 8.3 percent

European online retailer Showroomprivé’s net revenues fell 8.6 percent to 125 million euros (138.8 million dollars) in the third quarter of 2019, down 7.8 percent after adjusting for the closure of operations in Germany, Poland and the closure of multi-currency website in 2018. The company said, total Internet revenues, which represent the group’s core business, posted a decline of 9.1 percent or 8.3 percent excluding the impact of closures.

Commenting on the company’s trading performance, Showroomprivé co-founders and co-CEOs Thierry Petit and David Dayan said in a statement: “The decline in revenues since the beginning of the year, particularly in the third quarter mainly due to the strategic decisions we have made. In addition to closures made in certain countries, we have decided to rationalise our offering and discontinue sales that are not sufficiently profitable. We still have a few quarters of intense work ahead, but we should begin to gradually reap the benefits of these measures over the next few quarters.”

Revenues for the nine-month period amounted to 427 million euros (474.2 million dollars), down 5.6 percent or 4.8 percent excluding the impact of the aforementioned closures. Nine-month Internet revenues totalled 419.9 million euros (466.3 million dollars), down 4.8 percent or 4.1 percent excluding geographical impact. The company said, loyal buyers generated 87 percent of revenues over the first 9 months of the year, up 3 percentage points year-on-year.