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.
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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.
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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, 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.
Europe's biggest electronics retailer MediaMarktSaturn has installed a self-checkout in its flagship store in Hamburg. Customers can now shop without passing by a cash register, if they so choose.
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.
Saturn has opened Europe’s first checkout-free electronics store in Austria. The former Metro Group chain offers its customers traditional sales assistance, but payments have to happen using an app.
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.
Saturn customers can use their own VR goggles to see products in two virtual environments. It is not yet possible to actually buy something in VR however.
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.
German Metro Group has seen its turnover drop slightly in its past fiscal year, as its food branch (including chains like Makro, Metro and Real) outperformed its electronics subsidiaries (Media Markt, Saturn and Redcoon).