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Natuzzi S.p.A. (NTZ), the Italian luxury furniture pioneer renowned for blending artisanal craftsmanship with modern design, provides investors and industry followers with timely updates through this dedicated news hub. Access official press releases, financial disclosures, and strategic announcements from the global leader in leather-upholstered furnishings.
This resource offers centralized tracking of earnings reports, product innovations, manufacturing expansions, and leadership updates, enabling stakeholders to monitor the company's market position. Discover how Natuzzi's brands like Natuzzi Italia adapt to evolving consumer preferences while maintaining heritage production standards across its international facilities.
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Natuzzi (NYSE: NTZ) reported its 2024 financial results with total net sales of €318.8 million, down 3.0% from 2023. Branded sales represented 92.7% of total sales at €287.9 million. The company's gross margin improved to 36.3% from 34.3% in 2023, though it reported an operating loss of €6.3 million.
Key operational changes included closing the Shanghai factory and relocating Natuzzi Editions production for North America to European sites. The company reduced its workforce by 638 persons in 2024, with 331 related to the Shanghai closure. Since 2021, there has been a net reduction of 1,141 employees (26% of total).
By region, North America showed 3.0% growth, while Greater China declined 14.6%. The company held €20.3 million in cash as of December 2024, down from €33.6 million in 2023. Direct Operating Store (DOS) sales increased 4.1% to €76.1 million, driven mainly by a 14.6% increase in U.S. stores.
Natuzzi (NYSE: NTZ) has scheduled the release of its unaudited fourth quarter and full year 2024 financial results for Wednesday, April 23, 2025, after the NYSE market close. The company will host a conference call on Thursday, April 24, 2025, at 12:00 p.m. Eastern time to discuss the financial information.
Participants can join the call by either dialing +1-412-717-9633 (passcode: 39252103#) or connecting via video link. A replay service will be available for approximately 3 hours after the conference until May 24, 2025, accessible by dialing +1-844-512-2921 (US/Canada) or +1-412-317-6671 (other countries) with access code 13753508.
Natuzzi announces its participation in the 2025 Milan Design Week (MDW) under the theme 'Rooted in Harmony,' showcasing their latest collections and brand evolution. The event, featuring over 2,000 exhibitors and nearly 500,000 international visitors, will highlight Natuzzi's 66-year heritage and integrated value chain in Italy.
The company maintains a strong Italian presence with 430 employees in the Style Center and offices, 1,500 people in factories producing Natuzzi Italia collections, and 3,000 in partner factories. Their Centro Stile, comprising 150 creative designers, continues to drive innovation while preserving brand heritage.
The 2025 MDW presentation will feature collaborations with renowned designers including Karim Rashid, extending the 'Memoria' project into bed collections, Andrea Steidl reimagining living spaces, Mauro Lipparini strengthening dining and living collections, and Marcantonio Malerba contributing artistic designs.
Natuzzi hosted a significant sales meeting in Xi'an, China, showcasing its latest Natuzzi Editions collection to over 500 current and prospective dealers. The event resulted in agreements for 26 new Natuzzi Editions stores planned for 2025, with 24 to be managed by existing dealers.
As the leading European furniture brand in China, Natuzzi maintains approximately 300 stores nationwide, including 16 stores operated through their Chinese joint venture (49% stake). The company unveiled two innovative collections, 'Feelwell' and 'Dolce Vita', which will drive commercial development in 2025.
The company also expanded its Natuzzi Italia presence with a new 3,500-square-foot standalone store in Shenzhen City on January 24, 2025, featuring the latest store concept and merchandising guidelines.
Natuzzi (NYSE: NTZ) reported financial results for the first nine months and third quarter of 2024. Total net sales were €243.9 million, nearly flat (-0.3%) compared to 2023. Branded sales reached €221.2 million (93% of total sales), up 0.3% year-over-year. DOS (directly operated stores) sales grew 6.3% to €57.4 million, driven by a 22.3% increase in U.S. sales.
The company reported an operating loss of €3.6 million, including €4.8 million in one-off severance costs. Excluding these costs, operating profit would have been €1.2 million. The company reduced workforce by 538 persons during the period, part of a larger restructuring effort that has cut 1,110 positions since 2021.
Cash position decreased to €17.1 million from €33.6 million at end-2023. The company is progressing with non-strategic asset sales, receiving $3.8 million for a building in North Carolina and signing an agreement to sell land in Romania for €2.9-3.1 million.
Natuzzi (NYSE: NTZ) has scheduled the release of its unaudited financial results for the first nine months and third quarter of 2024. The disclosure will take place on Thursday, December 12, 2024, after market close.
A conference call to discuss the financial information is scheduled for Friday, December 13, 2024, at 10:00 a.m. U.S. Eastern time (4:00 p.m. Italy time, 3:00 p.m. UK time). Participants can join via phone by dialing +1-412-717-9633 (passcode: 39252103#) or through video link.
A replay service will be available approximately 3 hours after the conference until January 13, 2025. Replay access numbers: +1-844-512-2921 (US/Canada toll-free) or +1-412-317-6671 (other countries), access code: 13750561.
Natuzzi S.p.A. (NYSE: NTZ) has unveiled its first branded residential project, the Natuzzi Harmony Residences in Dubai. The project features a 110,000-square-feet, 9-floor building with 50 apartments, developed in partnership with Peace Homes Development. Natuzzi led the architectural and creative direction, including exterior and interior design, floor plans, and shared spaces. The company will provide complete furnishings for all apartments, offering residents a selection of iconic living room, bedroom, and dining room sets. This milestone project demonstrates Natuzzi's evolution into a lifestyle brand and represents a significant expansion in their Trade & Contract business unit.
Natuzzi S.p.A. (NYSE: NTZ) reported its unaudited financial results for Q2 2024. Invoiced sales reached €84.4 million, up 1% from Q2 2023. Branded sales increased by 2.5% to €76.4 million, making up 93.2% of total sales. Directly operated stores (DOS) saw a 32.8% sales increase in the U.S. Gross margin improved to 38.1%, the highest since 2010. However, the company reported an operating loss of (€0.4) million, compared to break-even in Q2 2023, due to €1.2 million in severance-related costs. Net finance costs surged to (€2.0) million, attributed to high interest rates. Cash reserves stood at €28.2 million as of June 30, 2024. The company continues its staff restructuring program, reducing headcount by 20% since 2021. Natuzzi approved selling a building in High Point, North Carolina, for $12.1 million to fund restructuring and retail expansion.
Natuzzi S.p.A. (NYSE: NTZ) has announced the release date for its unaudited 2024 second quarter financial information. The company will disclose the results on Tuesday, October 22, 2024, after market close. A conference call to discuss the financial information is scheduled for Wednesday, October 23, 2024, at 11:00 a.m. U.S. Eastern time (5:00 p.m. Italy time, 4:00 p.m. UK time).
Interested parties can join the call by dialing +1-412-717-9633 with passcode 39252103#, or by clicking a provided link for video participation. A replay of the call will be available for approximately 3 hours after the conference end time, until Saturday, November 23, 2024 at 11:59 PM ET. To access the replay, dial +1-844-512-2921 (toll-free for U.S. and Canada) or +1-412-317-6671 (other countries) with access code 13749755.
Natuzzi S.p.A. (NYSE: NTZ) has reported its unaudited financial results for the first quarter of 2024. The company achieved overall invoiced sales of €84.5 million, nearly matching the previous year's performance. Sales from directly operated stores (DOS) climbed 13.6% year-over-year, with North American DOS sales increasing by 29.8%. The gross margin improved to 36.9% from 35.6% a year earlier, and the company recorded an operating profit of €0.6 million, reversing the previous year's operating loss of (€0.9) million. Net finance costs were (€2.2) million, impacted by high interest rates. The company continued its restructuring process, reducing its workforce by 94, and invested €1.6 million in capital expenditures. As of March 31, 2024, Natuzzi held €29.7 million in cash. However, the market remains challenging, affecting the full realization of retail expansion efforts. The company remains committed to adapting its cost structure and achieving its mid-term growth objectives.
