May 26, 2017 / 2:30 PM / 7 months ago

BRIEF-Natuzzi reports Q1 loss per share EUR 0.20

May 26 (Reuters) - Natuzzi SpA:

* Natuzzi announces results for first quarter of 2017

* Net revenues for quarter were EUR 115.9 million, down 4.0 pct from Q1 2016

* Qtrly loss per share EUR 0.20

* Industry faced very difficult challenges caused by global political environment which in turn caused consumers to hold back their spending

* Board has approved a reserve addition for EUR 9.3 million relating to potential cost stemming from court ruling received in May​

* Company decided to increase provision for legal proceedings

* Plan to open 8 new-generation stores by end of 2017, in addition, to pursue between 20 - 25 new mono brand franchised stores around world

* Like- for- like retail sales grew by 2.3 percent compared to same quarter last year and 14.6 percent compared to previous calendar quarter Source text for Eikon: Further company coverage:

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