Hornbach Q3 Report 2023

The third quarter (Q3) of 2023/24 (September 1 to November 30, 2023) was characterized on the one hand by a slight decline in the sales performance due to lower average purchases and customer hesitation as to larger-scale DIY projects. On the other hand, thanks to lower procurement prices the company was able to improve its gross margin in the third quarter. Fur- thermore, despite higher levels of pay HORNBACH’s successful cost management enabled it to slightly reduce its overall store operation and administration expenses.

The € 61.1 million reduction in third-quarter sales was largely offset by the increase in the gross margin [→ Brief Glos- sary on Page 8] by one percentage point (33.4%; 2022/23: 32.4%) due to lower procurement prices. As a result, gross profit decreased by just 0.9% to € 495.8 million (2022/23: € 500.5 million).