FNAC 3Q16 Results
The Fnac Darty group has published its 3Q16 revenues, which marked a small decline and a sequential slowdown compared to H1 with LFL revenues down by -0.7% yoy to €1.7bn (9M16: +2.9%), pro forma of the acquisition of Darty (consolidated since August). This was essentially due to the challenging French market, especially for Fnac (-2.6%; representing 35% of Q3 sales) which saw deteriorated market trends in most product categories. Footfall declined in stores and was only partly offset by the double-digit growth of online sales (c. 15% of sales) driven by the rise of omnichannel orders. Darty’s French sales were more resilient...​
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