Electronics group Darty to retreat from Spain in June

Electronics group Darty to retreat from Spain in June

Electronics group Darty is retreating from Spain. The parent company of Vanden Borre and BCC is closing 43 shops in the country that was hit severely by the economic crisis. The closings will cost the company, which will have a new CEO from 1 May, about 30 million euro.

No guarantee for success

Darty (ex-Kesa) is expecting an operational loss of 16 million euro for the current financial year, with sales not exceeding 120 million euro. “To significantly improve our position, we would have to embark on a long and potentially expensive development trajectory, without any guarantee for success in a difficult market”, says chairman Alan Parker to French press agency AFP.

 

A complete retreat, which will cost Darty about thirty million euro, seemed the best solution. At the end of last year the group announced it would focus mainly on France, Belgium and the Netherlands. Earlier Darty pulled out of Italy and the UK, with an exit from the Czech Republic and Slovakia to follow.

 

Now boss from 1 May

At 1 May Régis Schultz will take charge at the electronics group. Schultz will come from But, the third biggest company on the French interior market, where he was CEO and stopped a further drop of the market share of the company. Before that he also worked at Kingfisher, as COO of B&Q.

 

Schultz has the heavy task to get downsized Darty, which had a half-year loss of 3.9 million euro, back on the rails and to take on Amazon and Cdiscount in the online market.

Questions or comments? Please feel free to contact the editors


Media Saturn launches a first, fully virtual shopping world

21/11/2017

Saturn customers can use their own VR goggles to see products in two virtual environments. It is not yet possible to actually buy something in VR however.

Pieter Haas, CEO Ceconomy: "We sell the consumer a digital life"

03/11/2017

MediaMarkt’s parent company, Ceconomy, has the key to consolidate the European electronics industry even more. The retailer will sell services and solutions: “We help people make the right decisions.”

Ceconomy continues growth in transitional year

26/10/2017

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.

Fnac Darty grew 6 % in third quarter

20/10/2017

Fnac Darty has raised its third quarter turnover by 6 % to 1.792 billion euro, with growth in the Benelux as well. The company also revealed the integration of both companies is ahead of schedule.

Samsung CEO resigns despite record profit

13/10/2017

South Korean Samsung has managed a record profit in its past quarter thanks to strong chip sales. However, one of its three CEO’s still decided to resign.

Fnac-Darty introduces new board

12/10/2017

A little more than a year after Fnac and Darty merged and several months after CEO Alexandre Bompard suddenly moved to Carrefour, the French entertainment and electronics group Fnac-Darty introduced its new board.

Back to top