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Made.com’s losses widen as it confirms new CEO appointment

Furniture retailer Made.com increased its losses in the year to 31 December after it was adversely affected by industry wide global freight inflation and supply chain… View Article

HOME & DIY

Made.com’s losses widen as it confirms new CEO appointment

Furniture retailer Made.com increased its losses in the year to 31 December after it was adversely affected by industry wide global freight inflation and supply chain disruption.

The retailer has reported a pre-tax loss of £31.4 million for the period compared to a loss of £14.6 million in the prior year. This included one-off IPO related P&L charges of £5.3 million

Meanwhile, revenue increased to £371.9 million from a previous £247.3 million in the year.

Susanne Given, chair of Made, said: “I am proud of the excellent growth and strategic progress the business has delivered since its IPO. We have a strong strategic plan in place to drive further and continuous growth.”

Looking ahead, Given added: “We will build on Made position as the leading digital destination for home through investing in the customer experience, the further development of our curated homewares range and growing the brand internationally. “

Whilst posting its full year results, Made has also announced that Nicola Thompson (pictured) has been appointed as the company’s permanent chief executive following her taking up the role on an interim basis last month. Moving from the role of chief operating officer, she has succeeded Philippe Chainieux who has stepped down for family reasons.

Today, Thompson said: “Made has an unrivalled understanding of its digital native customer base and this has enabled us to upgrade our proposition and significantly increase market share.

“We have a clear strategy, talented team and multiple levers to drive growth in the years ahead. I look forward to working with the very experienced board and the team at Made as we continue to listen to our customers’ needs and aspirations in order to help them curate the vision they have for their homes.”

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