We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.41 | 2.49 | 2.50 | 2.41 | 2.12 | 2.20 | 1,220 | 16:30:00 |
CNOVA N.V.
Second Quarter 2017 Activity
Amsterdam - July 11, 2017, 07:45 CEST - Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) ("Cnova" or the "Company") today announced unaudited 2nd quarter 2017 operating data as well as details of its strategic realignment plan.
Emmanuel Grenier, Cnova CEO, commented:
"During the 2nd quarter of 2017, our traffic and GMV grew at a double-digit rates, our customer loyalty program doubled in size and our marketplace accounted for more than one-third of our GMV. It is clear to us that, thanks to our technological expertise, we have one of the best traffic growth dynamics in France, and our mission going forward is to leverage this into higher GMV and net sales growth rates on a sustainable basis. To do this, we have embarked on a new strategic realignment plan designed to one, expand massively our direct sales product range; two, reinforce our multichannel offer; and three, accelerate the introduction of new B2B revenue streams.
Cdiscount is entering into a new growth phase which will see, compared to the end of 2016, its direct sales product range nearly quadruple in size, a 50% increase of its marketplace product catalogue and an 80% expansion of its distribution center floor space by the end of the 1st quarter of 2018. The new revenue streams we are introducing or accelerating will include increased marketplace fulfillment, new B2B services for our marketplace vendors such as foreign exchange and merchant financing, new data-based revenues, consumer credit and insurance solutions. And on top of all of this, we are improving customer satisfaction before and after purchase. For example, we are launching a new multichannel strategy that includes a new delivery option, and we are making more progress in terms of light product delivery speed. We have completely revamped our mobile site/application and customer area to make it more reactive and to make ordering products easier and faster.
The implementation of these growth initiatives, which temporarily weigh on margins and free cash flow this year, will allow Cdiscount to reinforce its top player status while strengthening its underlying profitability profile on a sustainable basis. These strategic moves are already stimulating top-line growth. They also allow us to enter into new markets where we are making market share advances."
2nd Quarter 2017 Highlights
GMV (gross merchandise volume) totaled €685 million, an increase of 11.5% compared to the same period in 2016 on a like-for-like (l-f-l) basis. On a reported basis, GMV rose 7.4% compared to 2016. The mobile share of GMV was 37.2% representing a growth of 776 basis points.
The marketplace share of total GMV continue to expand, reaching 35.0% for an increase of +314 basis points. The number of products available increased by 28%. The share of marketplace GMV fulfilled by Cdiscount rose from 5% at the end of June 2016 to 13% one year later while the number of vendors using Cdiscount's fulfillment services doubled y-o-y. The quality of our marketplace vendors showed continuous improvement with customer satisfaction, up by 14 points on average since the beginning of 2017 compared to last year.
Net sales totaled €410 million in the 2nd quarter 2017, up 8.6% on a l-f-l basis compared to the same period in 2016 (+4.5% 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 34% of direct sales.
According to Gfk (May 2017), Cdiscount's Technical Goods (Hi-tech, Computers and Home Appliances) value and volume market share grew y-o-y by +151 and +229 basis points, respectively.
Traffic at Cdiscount.com during the 2nd quarter of 2017 grew by 11.6% year-on-year (y-o-y) to 208 million visits. Traffic has grown on average by double-digits on a y-o-y basis every quarter since the beginning of 2016. According to Médiamétrie, Cdiscount posted the highest progression among the five main e-retailers in France during the first five months of 2017 in terms of the number of desktop unique monthly visitors.
The mobile share of traffic increased +767 basis points to 59.5% during the same period and has been growing by an average of 600 basis points per quarter since the beginning of 2016.
Traffic | 1Q16 | 2Q16 | 3Q16 | 4Q16 | 1Q17 | 2Q17 |
Growth (y-o-y) | +12.1% | +10.7% | +6.5% | +13.2% | +11.4% | +11.6% |
Mobile Share | 50.6% | 51.8% | 54.2% | 55.1% | 56.9% | 59.5% |
The number of active customers also continued to rise, reaching 8.4 million at June 30, 2017 (a y-o-y increase of 9.5%).
Membership of Cdiscount à volonté (CDAV), Cdiscount's customer loyalty program doubled y-o-y.
Orders totaled 5.7 million during the 2nd quarter of 2017, for a y-o-y increase of 8.9%. CDAV customers accounted for 29.6% of the 2nd quarter 2017 orders compared to 15.4% during the same period in 2016.
The number of items sold increased to 11.1 million from 10.4 million during the same period in 2016 (up 6.4%).
2017 Strategic Realignment Plan
The Group is embarking on a wide ranging growth plan in order to return to a sustainable double-digit GMV growth rate while strengthening sources of profitability. Strategic initiatives launched during the 2nd quarter 2017 were primarily of three types: product catalogue expansion, multichannel offer reinforcement and the launch of new revenue streams.
Product catalogue expansion:
Multichannel offer reinforcement:
Launch of new revenue streams:
Technology and Logistics
Cdiscount continues to maintain its technological and logistics edges in the French market:
Second Quarter Activity
Cnova N.V. | Second Quarter(1) | Change | ||
2017 | 2016 | Reported(1) | L-F-L(2) | |
GMV(3) (€ millions) | 685.2 | 637.9 | +7.4% | +11.5% |
Marketplace share | 35.0% | 31.9% | +314 bp | |
CDAV share | 32.0% | 16.5% | +1,547 bp | |
Net sales (€ millions) | 410.3 | 392.5 | +4.5% | +8.6% |
Traffic (visits in millions) | 207.9 | 186.2 | +11.6% | |
Mobile share | 59.5% | 51.8% | +767 bp | |
Active customers(4) (millions) | 8.4 | 7.7 | +9.5% | |
Orders(5) (millions) | 5.7 | 5.2 | +8.9% | |
CDAV share | 29.6% | 15.4% | +1,415 bp | |
Number of items sold (millions) | 11.1 | 10.4 | +6.4% |
***
About Cnova N.V.
Cnova N.V., one of the leading e-Commerce companies in France, serves 8.4 million active customers via its state-of-the-art website, Cdiscount. Cnova N.V.'s product offering of more than 23 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.
***
Upcoming Events | |
Tuesday, July 25, 2017 at 07:45 CEST | Cnova First Half 2017 Activity & Financial Results |
Tuesday, July 25, 2017 at 16:00 CEST | Cnova First Half 2017 Activity & Financial Results Conference Call & Webcast |
Conference Call and Webcast connection details | |
Conference Call Dial-In Numbers: | |
Toll-Free: | |
France | 0 800 912 848 |
UK | 0 800 756 3429 |
USA | 1 877 407 0784 |
Toll: | 1 201 689 8560 |
Conference Call Replay Dial-In Numbers: | |
Toll-Free: | 1 844 512 2921 |
Toll: | 1 412 317 6671 |
Available From: July 25, 2017 at | 13:00 EDT / 19:00 CEST |
To: August 2, 2017 at | 00:00 EDT / 06:00 CEST |
Replay Pin Number: | 13665365 |
Webcast: | |
http://public.viavid.com/index.php?id=125127 | |
Presentation materials to accompany the call will be available at cnova.com on July 25, 2017. | |
An archive of the conference call will be available for a limited time at cnova.com following its conclusion. | |
***
Cnova Investor Relations Contact: investor@cnova.com Tel: +31 20 795 06 71 | Media contact: directiondelacommunication@cnovagroup.com Tel: +31 20 795 06 76 |
[*] 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, iii) the exclusion of TV products, which benefited from the mandatory shift to Digital Terrestrial Television (DTT), and the Euro football championship in the 2nd quarter 2016 (respectively, 1.5pt and 1.8pt on GMV and net sales growth), iv) the impact of 2017 summer sales starting one week later than in 2016 (respectively, 2.3pt and 2.0pt on GMV and net sales growth), and v) Cdiscount sales realized with Casino clients in France resulting from the multichannel agreement with Casino effective June 19, 2017.
1 Year Cnova NV Chart |
1 Month Cnova NV Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions