The UK retail division of Italian upholstered furniture manufacturer Natuzzi has reported a decline in sales.

According to its latest filed accounts for the year ended 31 December 2024, total sales fell 8.2% to £4.5m from £4.9m in 2023.

Pre-tax losses resulted at £736,000, widening from a loss of £93,000 recorded in the previous year.

Stated within its report, Natuzzi said: “The drop in sales by 8.2% is mainly due to the poor performance of the Croydon store (-34% in comparison with 2023).

“Gross Product Margins increased by 0.5% from 50.6% (2023) to 51.1% (2024). Croydon margins increased where clearance values in 2024 were 21% compared to 27% in 2023. Westfield had a reduction in discounts granted to final consumers.

“The Company’s medium-term strategy remains focused on increasing its brand awareness and presence within the UK upholstery market whilst continuing to improve service levels and expand the range of product offerings to consumers.”