Electronics
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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Food
Metro is disappointed in a takeover bid by shareholder group EP Global Commerce, which is offering 5.8 billion euros for the holding behind Makro and Real.
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, 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.
Czech billionaire Daniel Kretinsky and Slovak investor Patrik Tkac may be making an offer to take over Metro soon: the two have already acquired portions of the holding behind the Metro and Makro chains.
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.
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.
General
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.
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.
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.
