Natuzzi's Recovery Is Well Underway

Earlier this year I reviewed contemporary Italian furniture producer, Natuzzi, S.p.A (ADR) (NYSE:NTZ). Natuzzi appeared to offer value but the company was facing strict opposition against its planned restructuring and cost cutting plans within Italy, where labor laws are notoriously strict. Natuzzi, S.p.A (ADR) (NYSE:NTZ) designs and produces traditional leather and fabric-upholstered furniture such as loveseats and sofas. The company has 430 galleries worldwide, six production facilities and three warehouses. At its current stock price, the company has a market capitalization of $118 million and average daily volume is just under 38,000. Natuzzi valuation When I first took a look…