Natuzzi - NTZ STOCK NEWS

Natuzzi Italia has been selected as the technical partner to furnish meeting rooms for the 50th G7 Summit, which will take place in Apulia from June 13 to 15, 2024. This summit is notable for the participation of Pope Francis, emphasizing ethical and social justice issues. Natuzzi will showcase its Re-vive collection, celebrating its 10th anniversary. Pasquale Natuzzi, Executive Chairman, highlighted the company’s values of human rights, work ethics, sustainable growth, transparency, and harmony. With over 680 stores globally, Natuzzi was recently recognized as the most well-known European brand in key markets, including the US and China, according to an independent market research survey released in April 2024.

Natuzzi S.p.A. (NYSE: NTZ) held its annual general shareholders' meeting on May 30, 2024. During the meeting, shareholders approved the company's financial statements for the fiscal year ending December 31, 2023, and acknowledged the approval of the 2023 consolidated financial statements. The Board of Directors for the term 2024-2026 was re-elected, with Antonio Achille confirmed as CEO and Pasquale Natuzzi as Executive Chairman.

New external auditors PWC were appointed for 2024-2026, replacing KPMG. Additionally, the Board appointed committees for control and risk, and related party transactions. Vito Plantone was appointed as an alternate member of the Board of Statutory Auditors.

Natuzzi is celebrating its 31st anniversary on the New York Stock Exchange, having been listed since May 13, 1993.

The company has evolved from an entry-level manufacturer to a globally recognized brand in the medium to high-end segments.

A recent survey in April 2024 shows significant brand recognition in the US and China, with Natuzzi ranking 6th and 5th in unaided awareness respectively among all furniture brands.

Natuzzi is the top European brand in both markets, with awareness levels notably higher than other European competitors.

The company aims to leverage its strong brand presence, global store network, and retail capabilities for future growth.

Natuzzi S.p.A. (NYSE: NTZ) filed its annual report on Form 20-F with the SEC, showcasing its financial performance for the fiscal year ended on December 31, 2023. The report includes audited consolidated financial statements and is available on the company's website. Natuzzi, founded in 1959, is a prominent brand in luxury furniture production, known for its Italian design and craftsmanship. With a global retail network of 678 stores and 600 galleries, Natuzzi continues its commitment to social responsibility and environmental sustainability.

Natuzzi celebrates its 65th anniversary at High Point Market in the US and Design Week in Milan, showcasing new collections and retail strategies. The company's history of innovation, brand recognition, and global expansion is highlighted, with a focus on sustainable retail formats, design studios, and product collections aimed at accelerating growth. The introduction of the 'Comfortness' collection and new collaborations with international designers mark a significant step in the evolution of Natuzzi's brand identity.

Natuzzi S.p.A. (NYSE: NTZ) opens a new Natuzzi Italia store in Houston, Texas, strategically expanding its retail presence in the US. The grand opening event showcased the brand's unique offerings and design philosophy, targeting architects and designers for personalized habitat solutions.

Natuzzi S.p.A. (NYSE: NTZ) reported a decrease in invoiced sales for the fourth quarter and full year 2023 compared to the previous year due to challenging market conditions. The company focused on strengthening its branded business and restructuring operations to enhance competitiveness. Despite a decrease in sales, the transition to a lifestyle brand showed progress with a shift towards retail sales. Operating losses were reported, along with one-off restructuring costs. Net finance costs decreased in the fourth quarter, but rose for the full year due to rising interest rates. The company invested in retail expansion and production facilities, while reducing workforce to achieve cost savings.

Natuzzi S.p.A. (NYSE: NTZ) will release its unaudited 2023 fourth quarter and full year financial results on April 5, 2024. A conference call will be held on April 8, 2024, to discuss the financial information.

Natuzzi announces the transition of Jason Camp from his role as the North American President, highlighting his significant contributions to the company's retail expansion. The company emphasizes its commitment to enhancing its retail operations globally and improving organic performance.