Fnac Darty - Impact of « Yellow Vest » protests on 2018 end of year sales
Ivry, January 9, 2019
Impact of « Yellow Vest » protests on 2018 end of year sales
In an unprecedented context of « Yellow Vest » protests, Fnac Darty reports a loss of sales estimated at around 45 million euros, in France and Belgium, related to store closures and lower traffic.
This impact on end of year sales should weigh correlatively on the current operating income growth expected for 2018.
In parallel, Fnac Darty integration is being finalized according to plan, and the Group reaffirms its objective of €130m of synergies deployed at the end of 2018.
The Group also confirms its mid-term objectives of higher growth than its markets, and a current operating margin between 4.5% and 5% of sales.
Fnac Darty will release its sales for the fourth quarter and the full year, as well as the Group's 2018 financial results, on February 20th, 2019, after close of business.
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About Fnac Darty
Operating in eleven countries, Fnac Darty is a European leader in the retail of entertainment and leisure products, consumer electronics and household appliances. As of end of June 2018, the Group, which has 26,000 employees, has a multi-format network of 748 stores, including 526 in France and is ranked France's second e-commerce site (nearly 20 million unique visitors per month) with its two retail websites, fnac.com and darty.com. A standard-setting omni-channel retailer, Fnac Darty posted pro-forma revenues of €7.4 billion in 2017.