French furniture and home decor company Maisons du Monde has a reduction in sales with revenues down across all segments.

According to its trading update for Q4 and its full year 2023, sales for the fourth quarter were down 5.5% to €367.9m from €389.1m against the same period in 2022.

Furniture sales fell 2.8% to €114.5m from €117.8m, while Décor revenues were down 10.5% €215.2m from €240.3m in Q4.

By channel, store sales decreased 8.7% to €250.8m, while online sales fell 5.3% to €78.8m. Revenues in France were down 5.7% €192.7m, while International sales slipped 10.8% to €137m.

As for the full year 2023, total sales were down 5.5% to €1.2bn from €1.3bn in 2022.

Furniture sales fell 8.4% to €477.2m from €520.6m, while Décor revenues were down 9.9% €648.2m from €719.8m.

By channel, store sales decreased 7.4% to €815.7m, while online sales fell 13.9% to €309.6m. Revenues in France were down 6.2% €622.9m, while International sales slipped 12.9% to €576.6m.

Maisons said that furniture sales during Q4 did perform better despite the decline, boosted by product availability, promotional initiatives, free shipping and free instalment payments.

“Q4 discretionary consumption remained sluggish throughout Europe amid fluctuant inflation and volatile consumer confidence,” the business said.

“Maisons du Monde invested commercially to face this context and to sustain Q4 sales. The Group also strengthened the execution of its 3C Plan (Customers, Costs and Cash) with a strong focus on omnichannel Customer experience through new and distinctive initiatives.

“The Group continued its proactive store portfolio management, reporting 4 net closures and 2 transfers to affiliation during the period. At the end of December 2023, the store portfolio reached 340 own stores including 18 net closures and 5 affiliated stores, as anticipated. This reflects Maisons du Monde’s commitment to effective capital allocation and a disciplined cash management approach.”