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On the Natuzzi Q4 earnings call, founder and CEO Pasquale Natuzzi told analysts he was "disappointed and embarrassed" by the company's losses in 2017.


The southern Italian sofa giant had just reported an ugly €23.9 million pretax deficit, as we reported earlier this month (see related).


Much of that was down to non-repeating, one-time hits, such as the costs associated with an employment law case, some restructuring expenses and the transition costs of transforming itself "into a retail-oriented company."


As was noted at the time the results were posted, the UK market was performing well for Natuzzi with UK directly-operated-store (DOS) sales* up 10 percent last year.


But, in the aftermath of releasing its 2017 figures, Mr Natuzzi also revealed further detail regarding its UK business, which suggests its stores have built on that momentum into the new year.


At constant exchange rates, he said like-for-like UK DOS sales are 17 percent up against last year in the first three months of 2018.


Its London stores are those giving it the biggest bump; with Mr Natuzzi citing a massive 39 percent leap in sales at its Finchley Road store and a 31 percent hike at its Tottenham Court Road unit.


Proof that despite tough macro-economic conditions, micro-successes are possible. Those companies that can make the small wins add up, will win out overall.


Related Story

Natuzzi UK boon not enough to stem worldwide losses


* excluding concessions

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