Groupe SEB Maintains Momentum In Q3

Groupe SEB has continued to see strong overall momentum in the third quarter of the year. Third quarter sales rose to $1.3 billion, an increase of 6.8%, with organic growth of 6.5%, despite some currency effects.

According to Groupe SEB, the company started the year down in the North American market with a year-over-year sales decrease of 9.5%. However, sales have improved in the market during the quarter, the company said, with a slight decrease in dollars as reported of .3%, and a like for like organic growth uptick of 1.4% compared to last year’s third quarter.

By housewares segment, in cookware, T-Fal sales stabilized while momentum remained favorable for Imusa in ethnic cooking products, with broader distribution. All-Clad’s launch of new hard-anodized cookware ranges and a sharp increase in online sales also helped to boost the company’s results. In addition, the company highlighted Rowenta, in linen care, as largely responsible for the significant pick-up in activity in the third quarter, with the brand’s rollout of new anti-scale steam iron models and the growth of its garment steamers.

In Canada, in an overall environment that remained sluggish, the third quarter nevertheless saw an end to the sharp drop in sales experienced in the first half of the year, thanks to growth in small kitchen appliances, the company said.

During the third quarter, the company reported that sales grew in China and other Asian countries, while South American market sales remain volatile. Central Europe, the Balkan countries and Saudi Arabia were the major drivers of momentum, with double-digit growth rates, the company said. The overall European small domestic equipment market has grown moderately, with only Switzerland and the United Kingdom showing decreases.

Looking forward, Groupe SEB forecasted that it should maintain strong sales momentum in the fourth quarter. Groupe SEB added that it aims to achieve full year 2016 organic sales growth of 6%.