Ceconomy, a former part of German Metro Group, achieved a 4.6 % fourth quarter turnover increase to 5.264 billion euro. Media Market’s parent company mainly made strides online.
Online grows a fifth
There was a 5.8 % like-for-like turnover increase compared to the year before, with the largest growth in the DACH region (+ 7.2 %). Eastern Europe dropped 2.9 %, but the rest of Europe posted a 6.3 % increase. “We can see that Ceconomy is on the right track, despite this is a transitional year in which we became an independent company. We are well positioned to have a leading position through the European consumer electronics market’s changes”, CEO Pieter Haas said.
There was a 21 % online surge for Ceconomy. If one ignores the firm’s pure players, there was even a 39 % increase. 44 % of the online orders are picked up at stores.
It also opened thirteen new stores in the fourth quarter and shut down one, leaving it with 1,053 stores in total. The average store size did shrink 3.4 % to 2,811 sqm.
For its full fiscal year, turnover grew 1.3 % to 22.2 billion euro, with a 1.9 % like-for-like turnover increase. Ceconomy will publish its full fiscal results on 19 December.