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General

Ceconomy posts Q2 loss as revenues hit by store closures

Thursday 14 May 2020 | 16:54 CET | News
Ceconomy, the owner of retailers Media Markt and Saturn, said its currency and portfolio-adjusted sales for its fiscal second quarter to March declined by 6.6 percent to around EUR 4.6 billion, mainly due to store closures caused by the Covid-19 pandemic. For the same reason, adjusted EBIT fell by EUR 157 million year-on-year to a negative EUR 131 million. To date, Ceconomy has reopened 92 percent of its stores. 

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Categories: General
Companies: Ceconomy
Countries: Europe
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