Fnac Darty Expects More Synergies

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Fnac Darty announces strong results for Q3 2017, with revenue growth reaching 6% Y-o-Y thanks to telephony, gaming and small household appliance product launches, as well as "significant" calendar effect.

FnacRevenues for the quarter total €1.792 billion, with growth reaching 5.8% on a Q-o-Q basis. A longer summer sales period helped further growth across all territories, namely France-Switzerland (6.4%), Iberian Peninsula (5.2%) and Benelux (2.5%). The Belgian market did show growth, but the Dutch market remains troublesome as the retailer is still in the middle of a transformation plan for the country.

"The strong performance for the quarter demonstrates the Group’s ability to meet customers’ needs as well as the value of the partnerships with our suppliers, in a context of buoyant innovation cycle and numerous product launches," CEO Enrique Martinez says. "The Fnac Darty integration is continuing and the deployment of synergies is ahead of schedule, which allows us to raise our objective to at least 60% of planned synergies to be deployed."

The quarter saw the continuation of the Fnac Darty expansion plan-- it opened 16 new stores in Q3 2017, including 14 franchise stores. In total Fnac Darty now has 703 stores, 189 of which are franchise stores. Also in the works is the October launch of Darty+, a program leveraging on Fnac+ to offer a 2-hour delivery service to 20 cities, unlimited remote assistance and privileged access to Darty after-sales services for products purchased from other banners.

Go Fnac Darty Q3 2017 Results