Fnac Darty: cautious with flat sales in Q3
(CercleFinance.com) - Fnac has published Q3 sales of E1,840m, down 0.
5% as reported and down 0.1% LFL y-o-y.
It outperformed its respective markets in an environment that remains under inflationary pressure, with a deterioration in household confidence, management said.
Against this backdrop, it is adopting a cautious stance regarding a rebound in consumer spending that it had initially anticipated. It is continuing with its efforts to deliver an operating profit on ordinary activities in H2 2023 in line with that of H2 2022, it adds.
In concrete terms, it expects recurring operating income to be around E180m in 2023.
The Group expects to achieve its objectives of cumulative free operating cash flow of around E500m over 2021-2024 and at least E240m annually from 2025.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
5% as reported and down 0.1% LFL y-o-y.
It outperformed its respective markets in an environment that remains under inflationary pressure, with a deterioration in household confidence, management said.
Against this backdrop, it is adopting a cautious stance regarding a rebound in consumer spending that it had initially anticipated. It is continuing with its efforts to deliver an operating profit on ordinary activities in H2 2023 in line with that of H2 2022, it adds.
In concrete terms, it expects recurring operating income to be around E180m in 2023.
The Group expects to achieve its objectives of cumulative free operating cash flow of around E500m over 2021-2024 and at least E240m annually from 2025.
Copyright (c) 2023 CercleFinance.com. All rights reserved.