Fnac resurfaces, albeit not (yet) in Belgium

Fnac resurfaces, albeit not (yet) in Belgium

French book, music and electronics chain Fnac has experienced a good year as it managed to overturn a sales slump and triple its profits, although its foreign performance was not up to scratch.

"All indicators are green"

The French chain seems to be back in action: after several years of lower turnover (- 3.1 % in 2013), the group finally managed to stabilize its turnover at 3.9 billion euro and even managed a 0.9 % turnover growth in the second half of the year. On top of that, Fnac has managed to triple its net profit, from 15 million euro in 2013 to 41 million euro in 2014, which is a huge difference compared to the 142 million euro loss in 2012...

 

CEO Alexandre Bompard, who gained control in 2011 and moved the former Kering subsidiary to the stock exchange in 2013, is very satisfied: "All indicators are green at the moment. We have managed to consolidate our model in 2014 and we will experience growth in 2015."

 

Belgium: - 2.6 %

Fnac's decent results are entirely because of its French activities, which have generated 70 % of the group's total turnover. Abroad, Fnac is doing well in Spain and Portugal with a 0.7 % turnover increase (up to 659 million euro) thanks to several smaller store openings.

 

Its Brazilian branch has performed abysmally though, with a 11.3 % turnover drop. Swiss and Belgian turnover also dropped, some 2.6 %. Fnac has nine stores in Belgium and restructured last year, which cost 25 people their job.

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