0
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. 

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General
Companies: Ceconomy
Countries: Europe
::: add a comment
This article is part of dossier

Coronavirus


Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Ceconomy signs credit facility linked to ESG targets

Published 07 May 2021 09:13 CET | Europe
Ceconomy, the owner of retailers Media Markt and Saturn, said it has signed a credit facilities of EUR 1.06 billion with interest ...

Ceconomy appoints new CFO from May

Published 20 Apr 2021 10:29 CET | Germany
Ceconomy, the owner of retailers Media Markt and Saturn, said it has appointed Florian Wieser as Chief Financial Officer and ...

Ceconomy targets sales, EBIT growth in new year, agrees new shareholding structure

Published 15 Dec 2020 09:51 CET | Europe
Ceconomy, the owner of retailers Media Markt and Saturn, said that its sales for the fiscal year to September 2020 stood at EUR ...

Ceconomy plans job cuts after quarterly loss

Published 13 Aug 2020 16:16 CET | Europe
Ceconomy, the owner of retailers Media Markt and Saturn, said that its sales fell by 8.4 percent on a currency- and ...

Ceconomy sales start to recover as shops reopen

Published 16 Jul 2020 15:42 CET | Europe
Ceconomy, the owner of retailers Media Markt and Saturn, said that based on preliminary results, reported sales declined by 10 ...

Shareholders push Ceconomy to come up with new strategy

Published 30 Jun 2020 17:24 CET | Europe
Convergenta, the investment vehicle of the Kellerhals family, has asked Ceconomy, the owner of retailers Media Markt and Saturn, ...

Ceconomy withdraws guidance as MediaMarkt shops close

Published 23 Mar 2020 16:03 CET | Europe
Ceconomy, the owner of retailers Media Markt and Saturn, has decided to withdraw its outlook for results in the financial year to ...

Ceconomy reports comparable sales up 0.2% in June quarter

Published 13 Aug 2019 08:24 CET | Europe
Ceconomy, the owner of retailers Media Markt and Saturn, reported a continued fall in results for its fiscal third quarter to ...

MediaMarkt owner Ceconomy issues second profit warning in a month

Published 10 Oct 2018 12:10 CET | Europe
Ceconomy, owner of the MediaMarket and Saturn retail chains, said it expects to report results for its fiscal year to September ...

MediaMarkt-Saturn to expand customer service at home

Published 29 May 2017 10:43 CET | Germany
German retail chain MediaMarkt-Saturn plans to start offering customers more technical assistance at home. In an interview with ...





Calendar   /   Industry Events

03 Aug Bredband2 Q2 2021
03 Aug Sequans Q2 2021
03 Aug RingCentral Q2 2021
03 Aug Akamai Technologies Q2 2021
03 Aug Alibaba Q2 2021
03 Aug Infinera Q3 2021
03 Aug NeoPhotonics Q2 2021
03 Aug Bharti Airtel fiscal Q1
03 Aug Echostar Q2 2021
04 Aug Intred Q2 2021
04 Aug Aferian interim results
04 Aug Liberty Latin America Q2 2021
04 Aug Smith Micro Q2 2021
04 Aug Inseego Q2 2021
04 Aug Qorvo fiscal Q1
04 Aug Roku Q2 2021
04 Aug 8x8 fiscal Q1
04 Aug Viavi Q4
04 Aug EA fiscal Q1
04 Aug Digi International fiscal Q3
04 Aug Lumen Technologies Q2
04 Aug Softbank fiscal Q1
05 Aug Starhub Q2 2021
05 Aug United Internet Q2 2021
05 Aug Swisscom Q2 2021
05 Aug Uniti Group Q2
05 Aug OTE Q2
05 Aug FireEye Q2
05 Aug InterDigital Q2
05 Aug Switch Q2 2021
::: More Calendar Items