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.
» Read more
Fnac Darty is the first large French company to receive state aid to weather the coronavirus crisis. The electronics and multimedia group borrowed half a billion euros with a state guarantee.
» Read more
Amazon has decided to delay its annual discount day Prime Day due to the corona crisis, a decision that may cost the company some 300?million dollars (270?million euros).
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.
A French judge has imposed a record fine of 1.1?billion euros on Apple, which would have disadvantaged independent distributors with price-fixing and exclusion.
Fnac Darty's turnover rose slightly in 2019, as new activities were successfully integrated. The French electronics group remains cautious for 2020.
Coolblue has raised its prices significantly and halted marketing and affiliate actions - without communication. Due to the corona crisis, it seems: the Dutch retailer is afraid a reduced production in China will cause empty shelves and acts preemptively. But is that all there is to it?
Dutch e-tailer Coolblue has reached a record turnover of 1.5?billion euros in 2019. Now it wants to invest in an expansion into Brussels and Wallonia, new stores in the Netherlands and services such as home delivery by bike and installation of appliances.
Dutch electronics giant Philips is going to divest its household appliances division. As such, the manufacturer is will soon say goodbye to its vacuum cleaners, coffee makers and irons.
Soon the Chinese smartphone manufacturer?Xiaomi, the fourth largest in the world, will open its first physical store in the Benelux. That?first store will be in Rotterdam, according to published job offers.?
The social unrest in France has caused Fnac Darty to have a disappointing fourth quarter. It also became known in the margins that the company is looking for a partner for its Dutch subsidiary?BCC.
Bose is going to close half of its stores worldwide: a complete retreat from Europe, North America, Japan and Australia leaves only stores in four Asian countries. The specialist in audio equipment says too many people have switched to buying its products online.
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."
French chains Carrefour and Fnac Darty are going to move in together: the electronics retailer is going to open thirty stores in French Carrefour hypermarkets. Will Belgium follow suit?