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


Ceconomy (former Metro) mainly achieves online growth

31/08/2017

Ceconomy, the newly-formed electronics company that split off from the Metro Group, grew 1.1 % in its first independent quarter. The owner of Media Markt and Saturn saw its web shops outperform physical stores.

New owner for smartphone manufacturer HTC?

28/08/2017

Taiwanese technology company HTC may be looking for a new owner as competition is becoming stronger. The company is now looking for options to raise funds for a battle plan.

Twelve-year sentence for Samsung's vice-president?

07/08/2017

Prosecutors in the Samsung corruption case have demanded a 12-year sentence for its former vice-president and de facto CEO of the South Korean company at the time, Jay Y. Lee, who has been charged with bribery and embezzlement.

Apple sales drop smaller than expected

02/08/2017

Apple has sold more iPhones in the third quarter of its fiscal year than it did last year, which was a surprisingly more positive feat than analysts had expected. Compared to the second quarter, there was further decline though.

Ceconomy (Media Markt) acquires quarter of Fnac Darty

26/07/2017

Ceconomy, Metro Group’s former consumer electronics division containing Media Markt and Saturn, acquired 24.3 % of Fnac Darty’s shares from the Pinault family.

 Blokker adds household appliance specialist AO.nl to Nextail

21/07/2017

Blokker Holding’s online organization, Nextail, will enter a strategic collaboration with online household appliance specialist AO.nl’s Dutch division.

Back to top