Made.com shares slump after losses

ONLINE furniture retailer Made. com has seen shares plunge after warning it is set to slump to a fullyear underlying loss due to tumbling sales and supply chain woes.

The group’s shares slumped by more than a fifth at one stage as it slashed its sales outlook and said trading would remain “highly challenging” this year.

Made.com – which floated on the stock market last June – forecast full-year gross sales would fall by up to 15%, while ongoing supply chain disruption is also hitting its bottom line. It said it expects to post an annual underlying loss of between £15m and £35m, dragged lower also by a £5m cost of supply chain issues.

Made.com said: “Although Made’s performance has remained strong versus pre-pandemic levels, trading has been volatile and more challenging than anticipated.”