Ceconomy (the former Metro branch that owns electronics chains Media Markt and Saturn) has announced a thorough restructuring, which may cause up to 3,500 jobs being cut and several stores closed all over Europe.
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Ceconomy, the parent company of Media Markt and Saturn, has achieved a tiny turnover growth in its previous financial year. Although net profit increased, no dividend will be paid next year as management wants to strengthen the company's equity.
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In his first interview as interim CEO of Ceconomy, Bernhard Düttmann announced a major change in the stores of the MediaMarkt and Saturn chains. He thinks his stores are too big, and: "the atmosphere in some of our stores is still too cold."
Ceconomy, the owner of the Media Markt and Saturn chains, is to show its CEO Jörn Werner the door - despite the fact that he had only started his job in March and was fully engaged with the restructuring.
German chains MediaMarkt and Saturn have seen their losses grow by 50 % and turnover stagnate, but owner Ceconomy believes the future is positive as transformation should bring rewards.
Ceconomy, the owner of electronics chains MediaMarkt and Saturn, has appointed a new CEO and a new CFO. After the exit of Pieter Haas, Jörn Werner and Karin Sonnenmoser will take over.
Ceconomy CEO Pieter Haas leaves the holding company of German electronics chains Media Markt and Saturn with immediate effect, after another series of disappointing results.
German electronics group Ceconomy has released a profit warning: disappointing sales in its MediaMarkt and Saturn stores have caused the company to miss the profit forecast.
French electronics retailer Fnac Darty has set up a purchase alliance with competitor MediaMarkt Saturn. Both companies will buy together when it comes to the European retail market.
Ceconomy will create uniformity between Media Markt and Saturn’s online and offline pricing. This will be possible thanks to the digital price tags it now uses in the stores, because there can be altered in real-time.
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.
Media Markt and Saturn’s parent company, Ceconomy, issued an alert warning it would probably have weaker first quarter results.
Erich Kellerhals, co-founder of electronics chain MediaMarkt, has died on Christmas day, aged 78. The German laid the foundation for one of the world’s largest electronics chains in 1979.
Media Markt and Saturn’s new parent company, CECONOMY, has performed well in its fiscal year 2016/2017. Its 1.3 % turnover increase was largely thanks to improved online sales.
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.
The store as an amusement park: an elaborate experience strategy is how Media Markt will counter its online competitors. The new pilot stores in Wilrijk and Eindhoven give shoppers an overview of all the latest electronic gadgets.