FNAC DARTY: Q1 better than feared but the pain will be felt in Q2 | NEUTRAL | EUR44
FNAC DARTY - NEUTRAL | EUR44Q1 better than feared but the pain will be felt in Q2
Q1 sales down 7.9%, much better than feared
But Q2 still points to -24% in our view
Tighter cost control to restrain c.EUR600m e cash burn over H1
Dividend unsurprisingly cut, Neutral reiterated
Fnac Darty is engaged in the leisure and entertainment, technology, and household appliances retail market in France and a player on markets in other countries where it operates such as Spain, Portugal, Belgium, the Netherlands and Switzerland. Fnac Darty also has franchise operations in Morocco, Qatar and Ivory Coast.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.