Natuzzi announce third quarter sales

Natuzzi SpA, manufacturers of leather upholstered furniture, have announced that third quarter net sales for 2003 reached US$195.9 million, up 1.2% on the third quarter of 2002. Third quarter net upholstery sales fell to $166.4 million, down 6.3% on the same period of last year, while other sales (including living room accessories and raw materials) climbed 83.2% to $29.5 million. Net upholstery sales in the Americas decreased 2.2% to $92.3 million, and fell 13.1% in Europe to $61.4 million. Elsewhere, net upholstery sales reached $12.7 million, up 0.9% compared with the third quarter of 2002. Leather-upholstered furniture sales decreased 11.3% from last year's quarter to $135.6 million. During the quarter, Natuzzi opened a total 12 new Divani & Divani by Natuzzi, Natuzzi Store and Kingdom of Leather stores in Italy, France, USA, UK, Switzerland and Malta, taking the number of stores to 133 in Italy and 97 outside Italy. Source: StockHouse USA