Electronics
Over the last three months, Ceconomy, the parent company of MediaMarkt and Saturn, has seen comparable sales increase by around 8 per cent. However, in Germany, the group's most important market, the recovery is slow.
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Property
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General
In order to gain market share in the Benelux, Amazon charges significantly lower prices than direct competitors such as bol.com, Coolblue or MediaMarkt. And that pays off: the webshop attracts more customers.
Thanks to a sharp increase in demand for electrical appliances during lockdowns and an enormous growth in e-commerce, Ceconomy, MediaMarkt's parent company, can present a good report.
As Ceconomy (the owner of the MediaMarkt and Saturn chains) was forced to close its stores for a while due to the corona crisis, it suffered huge quarterly losses and had to ask for state aid in Germany.
Ceconomy, the parent company of electronics chains MediaMarkt and Saturn, is in talks with the German national bank about obtaining two billion euros in state aid. The German retailer claims to need the support due to the corona crisis.
China is the world's most important producer of textiles, toys and electronics, but its production has almost completely halted due to the coronavirus. If that crisis continues, Belgian companies too may suffer from logistic problems and empty shelves may start to occur.
Electronics chain MediaMarkt wants to open an online market place in May 2020. This would debut in Germany and should make it possible to expand the product range on offer.
Has the long-running conflict between MediaMarktSaturn and the Kellerhals family finally been resolved? The co-founder may be tempted to exchange his remaining MediaMarkt shares for an interest in parent group Ceconomy.
German Ceconomy, the holding that includes MediaMarkt and Saturn, has had a tough quarter due to negative currency and calendar effects. Still, the company reaffirms its prospects for the rest of the year.
Ceconomy, parent company of MediaMarkt and Saturn, is putting its alliance with Fnac Darty on hold for now. The company wants to find a solution for its ongoing poor performance and financial troubles first.
Ceconomy, the holding owning electronics chains MediaMarkt and Saturn, has had a bad year: after CEO Pieter Haas' departure in mid-October, now financial director Mark Frese also quits.
MediaMarkt's owner Ceconomy has engaged in talks with investment group EP Investment about a possible sale of its interest in Metro, the German food group that also operates through Makro and Real.
Ceconomy, MediaMarkt's parent company, has sold its onerous Russian division to local electronics chain M.video. The German electronics giant does not quit Russia altogether however, as it continues as shareholder of M.video.
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.”
