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.
Synergy ahead of schedule
French and Swiss turnover grew 6.4 %, similar to its turnover increase in the Iberian peninsula. Growth in the Benelux was slightly lower, at 3.2 %. The entire group’s like-for-like turnover increase stood at 5.8 %. “The strong performance for the quarter demonstrates the Group’s ability to meet customers’ needs”, CEO Enrique Martinez said.
Fnac Darty also hopes to have saved at least 60 % of its intended 130 million euro target by the end of 2018. That number is the supposed benefit from the synergies between Darty and Fnac. Previously, the company assumed it would be able to reach 50 % of that target by the end of the year.
Belgian third quarter turnover grew thanks to excellent telephone and household appliance sales. The Dutch market is still troublesome and Fnac Darty is currently in the middle of a transformation plan for this particular market. Fnac Darty also made strides online, both with its own websites and on online marketplaces. The group also continued its expansion: it opened sixteen new stores in the past quarter, including fourteen franchise stores. In total, Fnac Darty has 703 stores, including 189 franchise stores.