Fnac Darty: 'yellow vests' demos weigh on stock
(CercleFinance.com) - The worst performer of the SBF 120 index today, the Fnac Darty share is down over 5% this morning in Paris.
Last night, the retailer specialised in household electrical equipment and media products made a profit warning for 2018, which the group will announce on 20 February. Management says that store closures are resulting from the ongoing "yellow vests" protests, which have led to the group's sales falling by about 45 million euros in France and Belgium.
The group warned that this impact on end-of-year sales will therefore weigh on growth in its expected underlying operating income for 2018.
However, the group also says that the integration of Fnac and Darty is still going well, with the 130 million euros in synergies targeted at the end of 2018 being confirmed. This is also true for the the group's medium-term forecasts.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Last night, the retailer specialised in household electrical equipment and media products made a profit warning for 2018, which the group will announce on 20 February. Management says that store closures are resulting from the ongoing "yellow vests" protests, which have led to the group's sales falling by about 45 million euros in France and Belgium.
The group warned that this impact on end-of-year sales will therefore weigh on growth in its expected underlying operating income for 2018.
However, the group also says that the integration of Fnac and Darty is still going well, with the 130 million euros in synergies targeted at the end of 2018 being confirmed. This is also true for the the group's medium-term forecasts.
Copyright (c) 2019 CercleFinance.com. All rights reserved.