Showroomprivé net revenues were down 16.8 percent to 134.7 million euros for the third quarter of 2021 compared to Q3 2020, with Internet revenues down 17 percent to 132.8 million dollars as a result of demanding comparison base and disruptions in global supply chains that have recently spread to all sectors, resulting in lower inventory availability.
Over the first nine months of the year, net revenues amounted to 522.9 million euros, up 12.5 percent compared to nine months 2020 due to the lead gained in the first half of 2021, up 28.3 percent, absorbing the decline in the third quarter of 2021.
The lasting effects of the group’s strategic repositioning allowed the company to post third quarter revenues up 7.8 percent and nine month revenues up 23.2 percent versus 2019.
Commenting on the trading performance, Showroomprivé co-founders and co-CEOs Thierry Petit and David Dayan said: “It will come as no surprise that the third quarter presented a less favourable environment for e-commerce compared to last year, with a return to greater consumption in physical stores, which impacts all players in the sector. We have also been impacted by lower stock availability at our brand partners due to disruptions in the global production and supply chain. In view of our performance in the first nine months of the year, we are confident that our performance in 2021 will exceed that of 2020.”
The company said in a statement that on the back of a demanding comparison base and external factors that weigh on short-term activity, the group is committed to maintaining rigorous management of its operating expenses with the objective of achieving full-year EBITDA higher than 2020 EBITDA, demonstrating the merits of the initiatives taken to improve the group’s structural profitability and the robustness of the business model.