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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As of 1 August Dr Karsten Wildberger will be the new CEO of Ceconomy. He will also become CEO of Media-Saturn-Holding-GmbH (MediaMarktSaturn), bringing an end to the double management structure.
General
Between Christmas and New Year we traditionally look back: which articles on RetailDetail.eu were read the most last year? This overview gives a nice picture of the events in the insane retail year 2020. And no, not every article was about corona...
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.
Media Markt and Saturn will not allow themselves to be side-lined now that Europe is once again under the spell of lockdowns. In Belgium, all stores had to be closed, and even then, the electrical retailer is selling well.
Ceconomy, the holding company behind MediaMarkt and Saturn, is recovering from the corona crisis faster than expected. The German company is raising its forecasts for this financial year, although thousands of jobs are still at risk.
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.
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.
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.
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.
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.
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 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.
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.
