New Permanent CEO for Made.com Amidst Increasing Losses and Revenue Surge
- Made.com appoints Nicola Thompson as permanent CEO
- Losses widen from £14.6m in 2020 to £31.4m in 2021
- Gross sales growth of 50% year-on-year with revenue at £372m
- 1.3m active customers, up by 26% compared to 2020
- Deferred revenue at £56m period end
- Gross margin impacted by global freight inflationary pressures
- Focus on disciplined and low-cost customer acquisition
Furniture retailer Made.com has named Nicola Thompson as its permanent CEO after reporting a widening of losses from £14.6m in 2020 to £31.4m in 2021. Despite the increased losses, the company experienced strong gross sales growth with revenue up by 50% year-on-year at £372m and 1.3 million active customers, a 26% increase from 2020. Deferred revenue reached £56m at period end. However, global freight inflationary pressures impacted the gross margin. The company will maintain a disciplined approach to customer acquisition with a focus on low-cost conversion rates for attractive payback and quality lifetime value.
Factuality Level: 8
Factuality Justification: The article provides accurate information about Made.com’s financial performance, including losses, sales growth, customer metrics, revenue, deferred revenue, and the appointment of Nicola Thompson as permanent CEO. It also mentions the impact of global freight inflationary pressures on gross margin and the company’s focus on customer acquisition. The article is mostly factual with a slight emphasis on positive aspects.
Noise Level: 3
Noise Justification: The article provides relevant information about Made.com’s financial performance, including its losses, sales growth, revenue, and gross margin impacted by global freight inflationary pressures. It also announces Nicola Thompson as the new permanent CEO. The justification for this rating is that it contains useful data and news without any irrelevant or misleading information.
Financial Relevance: Yes
Financial Markets Impacted: Made.com’s financial performance and stock price
Financial Rating Justification: The article discusses Made.com’s financial results, including losses, revenue growth, and gross margin impact due to global freight inflationary pressures, as well as the appointment of a new CEO.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text.
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