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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cnova NV | EU:CNV | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.01 | 0.45% | 2.21 | 2.21 | 2.39 | 2.21 | 2.21 | 2.21 | 1 | 08:00:12 |
CNOVA N.V.
First Quarter 2017 Activity
Amsterdam - April 13, 2017, 07:45 CEST - Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) ("Cnova" or the "Company") today announced unaudited gross merchandise value (GMV), net sales and other operating data for the quarter ended March 31, 2017.
Emmanuel Grenier, Cnova CEO, commented:
"Cdiscount's volume of activity has been and continues to run at a double-digit rate over the last two months after a disappointing start to the year. Our customer loyalty program, Cdiscount à volonté, continues to double in size and is driving growth of repeat business. The quality of our marketplace vendors has steadily increased and is accompanied by an improving profitability profile. While the mobile share of traffic closes in on 60%, we are seeing double-digit growth in traffic, orders and number of active customers. And our high margin home furnishings and appliances product categories now account for half of net sales.
Looking forward, we have our eyes firmly fixed on increasing the flow of traffic to our site and further monetizing that flow through the offering of expanded product categories with existing and new services. Beyond our multi-media, mobile telephone and cloud storage offers, we are planning on introducing a variety of home and financial services in the 2nd quarter. We have expanded the total floor space we currently have in France and expect to continue to do so in order to: one, increase inventory diversity and size; two, better accommodate the success of our marketplace fulfillment offer; and three, continue to bring our products closer to our clients in our pursuit of 24/7 overnight delivery.
In a highly competitive French market, Cdiscount's longstanding leading positions in terms of pricing, customer financing and quick delivery are proving to be key competitive advantages that continue to attract new customers."
[1] Like-for-like: includes adjustments related to i) the sale or closure in 2016 of the specialty sites Comptoir des Parfums, Comptoir Santé and MonCornerDéco, ii) the voluntary pullback of B2B sales initiated in the 3rd quarter of 2016 and iii) the additional day (February 29) in 2016.
[2] DTT: Digital Terrestrial Television, known as TNT in France.
[3] Commercial trend over the last eight weeks up to April 11, based on placed B2C GMV.
[4] Average unique monthly visitors on desktop site in January and February 2017, based on Médiamétrie studies.
[5] According to Sprinklr survey published in February 2017, based on the number of like, share and comments on social networks
1st Quarter 2017 Highlights
Gross merchandise volume (GMV) totaled €770 million, an increase of 7.7% versus 2016 on a like-for-like (l-f-l) basis (please see Footnote 1 page 1). On a reported basis, GMV rose 5.2% compared to 2016. After a slow start in January, order volume progressed throughout the quarter, reaching a run rate of +12% in March. This trend has continued in early April with a placed B2C merchandise volume growth of 10% over the last eight weeks to April 11.
Excluding TV products, which benefited from the mandatory shift to Digital Terrestrial Television (DTT or TNT) in the 1st quarter 2016, GMV increased by 9.7% on a yearly basis.
This progression is explained by:
Cdiscount has continued to strongly develop its presence on social networks. Its "fan base" on Facebook has significantly increased between end March 2016 and end March 2017, from 1.2 million to 1.4 million members. According to Sprinklr (survey published in February 2017), Cdiscount ranks second among 62 French retail players in terms of number of interactions on social networks (like, share, comment).
Net sales totaled €472 million in the 1st quarter 2017, up 4.0% on a l-f-l basis compared to the same period in 2016 (+1.4% on a reported basis). Home furnishings and household appliances accounted for 50% of direct sales, while hi-tech items (AV and smartphones) and IT goods represented 36% of direct sales. Marketplace commissions increased by 23% y-o-y.
Customer and Marketplace offer and service enhancements during the 1st quarter 2017 centered on improvement of existing and development of new services and growth of assortment, including:
First Quarter 2017 Activity
Cnova N.V. | First Quarter(1) | Change | |||
2017 | 2016 | Reported(1) | L-F-L(2) | ||
GMV(3) (€ millions) | 770.4 | 732.4 | +5.2% | +7.7% | |
Marketplace share | 32.0% | 29.3% | +267 bp | ||
Net sales (€ millions) | 472.0 | 465.3 | +1.4% | +4.0% | |
Traffic (visits in millions) | 233.8 | 209.9 | +11.4% | ||
Mobile share | 56.9% | 50.6% | +633 bp | ||
Active customers(4) (millions) | 8.3 | 7.5 | +10.4% | ||
Number of items sold (millions) | 12.5 | 11.2 | +11.7% | ||
Orders(5) (millions) | 6.5 | 5.7 | +13.6% |
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About Cnova N.V.
Cnova N.V., one of the leading e-Commerce companies in France, serves 8.3 million active customers via its state-of-the-art website, Cdiscount. Cnova N.V.'s product offering of more than 22 million items provides its clients with a wide variety of very competitively priced goods, several fast and customer-convenient delivery options as well as practical payment solutions. Cnova N.V. is part of Groupe Casino, a global diversified retailer. Cnova N.V.'s news releases are available at www.cnova.com. Information available on, or accessible through, the sites referenced above is not part of this press release.
This press release contains regulated information (gereglementeerde informatie) within the meaning of the Dutch Financial Supervision Act (Wet op het financieel toezicht) which must be made publicly available pursuant to Dutch and French law. This press release is intended for information purposes only.
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Cnova Investor Relations Contact: investor@cnova.com Tel: +31 20 795 06 71 | Media contact: directiondelacommunication@cnovagroup.com Tel: +31 20 795 06 76 |
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