Fnac Darty: Q1 2018 sales inch up 0.6%

(CercleFinance.com) - Group sales totalled 1,686 million euros in the first quarter of 2018, up +0.
6%, both as reported and like-for-like.

The Group benefited from its strong positioning in key sectors, such as books and telephony. Household Electrical Appliances continues to grow, led by small household appliances. However, the IT market is less upbeat, penalised by an unfavourable cycle of innovation, the group said.

In the first quarter, sales grew like-for-like in all geographic regions, with +0.3% in the France-Switzerland segment, +0.4% in the Iberian Peninsula and +2.2% in Benelux. The impact of bad weather negatively impacted growth by about -0.4pt over the quarter.

In a consumer environment that remains sluggish, Fnac Darty remains focused on its operational excellence and in Q2 is expected to benefit from sales that are driven by operations related to the football World Cup. Fnac Darty confirms its target of 130 million euros in synergies deployed at the end of 2018, management said.



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