Groupe SEB Net Rises in 2011 First Half

ECULLY CEDEX, France--Net income for Groupe SEB increased 4.5 percent in euros and 8.3 percent in dollars, totaling $130.6 million (using the average exchange rate of euros into dollars for the period).

The housewares giant accomplished the better bottom line largely on the strength of a sales gain of 10.6 percent in euros and 14.7 in dollars, to $2.4 billion. Sales growth was nearly 12 percent in the first quarter, but slowed to a 5.4 percent increase in the second quarter, reflecting a braking in demand in several countries. Sales in North America rose 2 percent in the first six months of the year.

Because of high levels of promotional activity, Groupe SEB's growth margin dropped 178 basis points. The company did not break out selling, general and administrative expenses, but operating income gained 7.2 percent in euros and 11.3 percent in dollars.

Based on its first half, Groupe SEB said it is on track toward "achieving...solid revenue growth and improved operating margin, in value terms, in 2011."

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Research Store

Videos

  • Macy’s Discusses Virtual Reality Test at HFN’s Omnichannel Summit

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover October 2017

    HFN's DIGITAL EDITION

    October 2017


    COVER STORY:

    One Kings Lane Flashes Forward

    Formerly a flash-sale only website, One Kings Lane—now under the ownership of Bed Bath & Beyond—evolves into a lifestyle retailer with a new physical presence.


    ALSO IN THIS ISSUE:

      •  HFN Tech & Omnichannel Study- Although e-commerce shopping is increasing dramatically among consumers, home retailers lag in their current and future tech investments and implementation.
      • Market Previews: High Point & Tabletop- The newest collections and influencer trends emerge in our High Point Market and N.Y. Tabletop Show special sections.