Natuzzi Stock Price, News & Analysis

Natuzzi S.p.A (NYSE: NTZ) announced the resignation of Chief Financial Officer Vittorio Notarpietro, effective January 10, 2022. In his place, Giuseppe Cacciapaglia has been appointed as Chief Accounting Officer. Cacciapaglia, who has been with Natuzzi since 1996, previously held roles including Chief Financial Officer of Natuzzi China. The announcement aligns with previous disclosures made on December 23, 2021.

Natuzzi S.p.A. (NYSE: NTZ) announced the resignation of Chief Financial Officer Vittorio Notarpietro, effective in the second half of January 2022, as he seeks opportunities outside the Global Furniture Industry. The company is actively searching for a replacement to ensure continuity in its ongoing retail and brand transformation. Notarpietro will remain in his role until the effective resignation date to facilitate a smooth transition. Natuzzi thanks him for over 20 years of service.

Natuzzi S.p.A. (NYSE: NTZ) reported a 20.7% increase in 3Q 2021 invoiced sales to €101.8 million, compared to €84.4 million in 3Q 2020. Gross margin improved to 36.0%, up from 32.5% in the previous year, despite ongoing supply chain challenges and inflationary pressures. Written orders surged 30.8% from 1Q 2021 and 5.2% sequentially from 2Q 2021. The company ended the quarter with €54.4 million in cash, a rise from €39.8 million year-over-year. However, operating losses remained steady at €0.4 million due to increased costs and delivery delays.

Natuzzi S.p.A. (NYSE: NTZ) will release its 2021 third quarter financial results on November 26, 2021, after market close. A conference call to discuss these results is scheduled for November 29, 2021, at 10:00 a.m. ET. Participants can join via video or telephone, with a replay available until December 29, 2021. Natuzzi, established in 1959, operates a global retail network of 577 mono-brand stores as of June 30, 2021, focusing on luxury furniture with an Italian design influence.

Natuzzi reported remarkable financial results for Q2 2021, with invoiced sales soaring by 76.0% compared to Q2 2020 and 17.7% vs Q2 2019, totaling €108.4 million. The company achieved a gross margin of 36.1%, up from 26.1% in Q2 2020. Operating profit surged to €1.5 million, a significant recovery from the previous year's loss of €7.7 million. Cash reserves increased to €55.1 million, demonstrating improved liquidity. Despite ongoing supply chain challenges, the Group invests in modernization and expansion to meet rising demand, especially in key markets like the U.S. and China.

Natuzzi S.p.A (NYSE: NTZ) will announce its Q2 and H1 2021 financial results on September 24, 2021, after market close. Following this, a conference call will occur on September 27, 2021, at 10:00 a.m. ET to discuss these results. Interested participants can join via video or telephone. A replay of the call will be accessible from September 27, 2021, at 1:00 p.m. ET until October 27, 2021, using specific dial-in numbers and an access code. Natuzzi, founded in 1959, is a leader in luxury furniture with 577 mono-brand stores globally.

The Board of Directors of Natuzzi approved its Q1 2021 financial results, highlighting a 23.1% increase in consolidated net sales to €101.5 million, driven by strong branded sales. The branded segment saw a 31.9% rise, making up 87.6% of core business. Key markets reported impressive growth, particularly in Greater China (+92.0%) and North America (+24.9%). The company improved gross margins through cost management despite rising raw material expenses, and a new CEO was appointed to boost future growth.

Natuzzi S.p.A. (NYSE: NTZ) will reveal its first quarter 2021 financial results on Friday, May 21, 2021, after market close. A conference call is scheduled for Monday, May 24, 2021, at 10:00 a.m. ET to discuss these results. Interested participants can join via the provided link. A replay will be accessible until June 24, 2021, with specific dialing instructions for different regions. Natuzzi, established in 1959, is renowned for its luxury furniture and committed to sustainability with multiple certifications.

Natuzzi S.p.A. (NYSE: NTZ) convened its Annual General Meeting on May 7, 2021, where shareholders approved the 2020 financial statements. The meeting resulted in the appointment of Antonio Achille as CEO, effective June 1, 2021, succeeding Pasquale Natuzzi, who transitions to Executive Chairman. Achille, a former McKinsey executive, is tasked with enhancing growth and margins. The Board also appointed new governance structures, including a Risk Committee. This move is part of Natuzzi's strategy to strengthen its competitive position in the luxury furniture market.