George Melas's questions to Natuzzi SpA (NTZ) leadership • Q2 2024
Question
George Melas of MKH Management asked for details on the performance of U.S. retail stores, including the variability between them, key learnings from recent openings, and how the company leverages its existing U.S. presence.
Answer
CEO Antonio Achille explained that average U.S. store sales have more than doubled to around $4 million since 2019. However, he acknowledged significant performance variability, with top stores generating over $6 million. This variance is attributed to factors like location, team quality, and assortment. Achille noted that the company has created a "retail excellence division" to standardize best practices and ensure more predictable results before accelerating new store openings.