Made.com has muted its financial expectations for 2022 due to the "volatile" and "challenging" nature of trade in the market.
Made states that although its performance has remained strong versus pre-pandemic levels, trading has been volatile in recent months, and more challenging than anticipated at the start of the year – and consequently, now assumes the market will remain "highly challenging" for the rest of the year, despite enjoying significantly easier comparatives in H2.
"Based on the most recent trading we are updating expectations for the full year," states Made. "We remain very confident that Made will continue to outperform the online home and furniture market by at least 20 percentage points."
Made is now forecasting a gross sales decline of between 0-15% this year, with net revenue around the breakeven mark. It now expects to achieve £1.2b of gross sales later than 2025.
CEO Nicola Thompson says: "There is no escaping the tough trading environment at the moment. However, we are laser-focused on executing our strategy and we are delivering strong progress across each of our strategic pillars. Our customers are at the heart of our business and we're seeing a really positive reaction to our improved proposition, with average lead times consistently at the targeted 3-4 weeks average for the last two months. Made continues to outperform the online furniture and home market and I am confident the company will emerge in a very strong position."
