French book and multimedia chain Fnac has released its third quarter results, in which it has managed to get sustainable growth once more. Its French branch managed large growth, thanks to improved online sales.
New strategy pays off
Fnac's third quarter turnover reached 863 million euro, 610 million euro of which came from its French home territory where turnover grew 4.7 % year-on-year. "The strategy we have implemented three years ago has shown its relevance in several areas: increased online growth, sizable omnichannel sales growth, the dynamics of the expansion of our new store formulas and the increased share new product groups have garnered in our total turnover", Alexandre Bompard (Fnac Group CEO) said.
Its French web shop managed a double-digit turnover growth and the company says omnichannel sales now represent 36 % of its total turnover, 6 % up from last year. The retailer believes new services, like 'Click & Collect' and the option to pick up orders in the store one hour after ordering online, have helped grow turnover.