Belgian telecom chain ALLO Telecom, a Base subsidiary, will close 27 stores as the "telecom market has been through huge changes" with increased competition and new laws regarding contract termination by the customer. With the closures, Base hopes that the future of the remaining stores can be assured and that a restructuring can help improve the profitability.
ALLO Telecom closes 27 stores
2017 may have been a record year for smartphone sellers, but the market is weakening: for the first time since 2004, there were fewer smartphone sales in the fourth quarter.
French entertainment and electronics retailer Fnac Darty (owner of Belgian chain Vanden Borre and Dutch BCC) has experienced a “solid 2017”, with a nearly 40 % turnover increase.
Ceconomy, Media Markt and Saturn’s parent company, revealed a small turnover growth for its first quarter, thanks to improved online sales. Expectedly, its profit did drop.
There has been yet another thorough shake-up among Fnac Darty’s shareholders. The merger company, which owns Belgian electronics chain Vanden Borre and Dutch retailer BCC, will now welcome insurance company SFAM, after it bought investment fund Knight Vinke’s shares.
Apple broke its turnover and profit records in the first quarter of its fiscal year, which ended on 30 December 2017. Nevertheless, there are unfavourable signals, because iPhone sales were below expectations.
Korean technology company Samsung’s fourth quarter resulted in a record profit, mainly thanks its chip division, where prices remain sky high.