Roche Bobois reports record fourth quarter as UK market recovers well

French furniture business Roche Bobois has reported an “excellent” fourth quarter, marked by strong growth in sales and business volume despite the restriction measures related to the health crisis.

Revenues for the fourth quarter of 2020 for the Group amounted to 86.5 million euros, representing a growth of 17.9% at current exchange rates (up 20.0% at constant exchange rates), in all the different geographical areas.

Following the very good level of orders recorded in the third quarter, particularly in the month of September (up 35%), activity in the UK recovered markedly in the quarter, with sales of 6.5 million euros, up 8.5% compared to the fourth quarter of 2019.

Over the year, the decline in UK turnover was -17.1%, as the country was heavily impacted by a particularly long health crisis. In addition, Roche Bobois’ business is concentrated almost entirely in London, a particularly “tried and tested city”.

In France, Roche Bobois generated sales of 27.1 million euros in the fourth quarter of 2020, up 18% compared to the fourth quarter of 2019, while in the North America area (United States/Canada) saw sales of 22.1 million euros, an increase of 4.6% compared to the previous year.

Europe (excluding France and outside the United Kingdom) posted quarterly revenue growth of 23.7% at current exchange rates (17.9 million euros), driven by very good business momentum in Switzerland, Germany and Italy. At the end of 2020, the area’s turnover grew by 3.3%.

Commenting on the results, Roche Bobois said: “During this unique and unprecedented year, the Group has demonstrated the strong resilience of its model and the international power of its brand. On a cumulative basis, over the whole of 2020, the volume of business on own stores is higher than in 2019: a remarkable performance, given the pandemic context and store closures imposed for 2 or 3 months in most geographical areas.

“In France, for example, the effects of the imposed store closures in November 2020 were caught up in December, with order intake growth of 239% over December 2019. In all markets, growth in December 2020 was 111% compared to December 2019.

“As a reminder, the Roche Bobois Group communicates both on its turnover (from the actual deliveries of its own stores and its royalties and commissions) and on its volume of business (from the HT orders taken from the network of own stores and franchisees). The volume of business allows to measure the activity of the stores and to anticipate the turnover of the coming months.”