Fnac Darty: Implementation of measures against the spread of Covid-19 - Consequences for Fnac Darty

Implementation of measures against the spread of Covid-19

Consequences for Fnac Darty

Following the strengthening of measures to fight the spread of Covid-19, Fnac Darty is supporting the decisions of French and European governments to protect the health and safety of citizens. In this respect, all of the Group's physical stores in France, Spain and Belgium are closed until further notice, and similar measures are to be taken in the other countries where Fnac Darty operates.

Since the onset of the crisis, the Group has taken all the necessary measures to protect the health and safety of its employees and customers by providing them with the best possible service to meet their expectations.

Thanks to its unique omnichannel model, Fnac Darty has powerful e-commerce platforms, which already account for 20% of its revenue, and is able to provide its customers with one website per brand and per country of operation, i.e. a total of 14 main e-commerce sites. The Group's strengths are currently focused on digital capabilities, which are sized to support very strong growth. In order to continue to ensure customer satisfaction and to respond to the urgency of equipping its customers, Fnac Darty has decided to make deliveries free of charge in France, for any purchase over 20 euros made on the fnac.com and darty.com websites. Similar measures are also in place in the other countries.

At the same time, the Group is working in close collaboration with all its stakeholders to adjust its fixed costs. As a result, the Group implemented a technical unemployment scheme from the morning of March 16, 2020, which concerns more than 80% of its employees in France, and similar schemes are being studied in all countries depending on local legislation. In addition, ambitious action plans concerning all of the Group's overhead costs are being deployed.

In this context, Fnac Darty is not in a position to confirm its 2020 objectives, i.e. a slight growth in revenue and current operating income.

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