Groupe SEB reported first quarter revenue gains of 2.3% to $1.2 billion versus revenue of $1.18 billion for the comparable period of 2012. The company’s North American business delivered slightly stronger results, achieving growth of 4.9%, or plus 5.2% when accounting for exchange rates, to approximately $125 million for the first quarter, up from $118 million in the 2012 period.
The company indicated that its results reflected the “mixed picture” of the global economy that has seen, “sluggish consumer spending in most mature markets.”
Addressing North America specifically, the company described the U.S. market as, “a little more buoyant than in 2012,” but said it remains highly volatile. In cookware, the company indicated that its T-Fal brand delivered, “robust revenue growth,” fueled by new product launches, “a strong marketing dynamic and rapid rise in e-commerce.”
On the flip side of the coin, the company described its All-Clad and Emeril businesses as having, “turned in a lackluster performance in a very competitive environment.”
The company continues to grow its small electrics portfolio in North America, continuing to expand its Krups and Rowenta businesses respectively. According to the company, “Rowenta consolidated its positions in a ironing market that declined further.”
The company also indicated that sales of its Actifry cooking appliance benefitted from “positive momentum that the Group attempted to amplify through targeted sales and marketing actions.”