0
General

Ceconomy withdraws guidance as MediaMarkt shops close

Monday 23 March 2020 | 16:03 CET | News
Ceconomy, the owner of retailers Media Markt and Saturn, has decided to withdraw its outlook for results in the financial year to June 2020. While the company said it had a "solid performance" in the first two months of 2020, the situation has become more challenging in March as its stores are closed in multiple countries across Europe. Ceconomy is focusing more on promoting online sales, but said revenues and EBIT will inevitably be impacted. 

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 / Germany
::: add a comment
This article is part of dossier

Coronavirus


Add 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

Mediamarkt, Saturn announce Xiaomi in-store concessions at German branches as smart home products go on sale

Published 04 Dec 2020 10:59 CET | Germany
MediaMarkt and Saturn, owned by Ceconomy, have announced the arrival of Xiaomi in-store concessions to their German branches and ...

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 looks at shop closures in Europe as coronavirus hits sales

Published 05 Aug 2020 16:09 CET | Europe
Ceconomy, the owner of retailers Media Markt and Saturn, said it is thinking of closing loss-making shops across Europe as a ...

MediaMarkt Switzerland names new interim CEO

Published 18 May 2020 16:42 CET | Switzerland
MediaMarkt Switzerland has named Co-COO Vittorio Buonfiglio its new interim CEO following the resignation of Patrick Marti, CE ...

Ceconomy posts Q2 loss as revenues hit by store closures

Published 14 May 2020 16:54 CET | Europe
Ceconomy, the owner of retailers Media Markt and Saturn, said its currency and portfolio-adjusted sales for its fiscal second ...

Ceconomy agrees new credit facility with banks

Published 12 May 2020 16:27 CET | Germany
Ceconomy, the owner of retailers Media Markt and Saturn, said it has received approval from a consortium of partner banks for a ...

Ceconomy posts EBIT loss on sales down 8% in Q1

Published 20 Apr 2020 12:20 CET | Europe
Ceconomy, the owner of retailers Media Markt and Saturn, said that its preliminary sales fell by 7.7 percent year-on-year in its ...

Ceconomy applies for state aid amid outbreak

Published 30 Mar 2020 10:19 CET | Germany
Ceconomy, the owner of retailers Media Markt and Saturn, has applied to state-owned development bank KfW to receive financial aid ...

Analog Devices withdraws outlook for Q2

Published 26 Mar 2020 14:50 CET | World
Analog Devices has withdrawn its outlook for the second quarter, citing the economic and social effects caused by the coronavirus ...

Ceconomy to aim for dividend again in future, elects Freenet CEO to supervisory board at AGM

Published 12 Feb 2020 16:41 CET | Germany
Ceconomy, the owner of retailers Media Markt and Saturn, said at its AGM that it aims to distribute a dividend again in the ...

Ceconomy sees sales decline, earnings improve in Q1

Published 07 Feb 2020 09:34 CET | Germany
Ceconomy, the owner of retailers Media Markt and Saturn, said that its sales declined by 0.5 percent year-on-year in the first ...

Ceconomy withholds dividend to reinforce equity, progress with reorganisation and efficiency programme

Published 17 Dec 2019 09:46 CET | Germany
Ceconomy, the owner of retailers Media Markt and Saturn, has announced that its management and supervisory boards have decided ...

Ceconomy lifts Q1 sales 1.7%

Published 08 Feb 2019 10:39 CET | Europe
Ceconomy, the owner of the MediaMarkt and Saturn retail chains, recorded sales of EUR 6.9 billion in the first quarter ending 31 ...

MediaMarkt owner scraps dividend after sharp fall in profit

Published 19 Dec 2018 14:46 CET | Europe
Ceconomy, the owner of the Media Markt and Satrun retail chains, has confirmed a sharp fall in earnings for the fiscal year to ...

Ceconomy's EUR 1 bln offer to buy out MediaMarkt minority shareholder rebuffed

Published 24 Aug 2018 17:13 CET | Germany
The heirs of the late MediaMarkt co-founder Erich Kellerhals have rebuffed a billion-euro offer for their equity stake in the ...

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

01 Mar Embedded World Digital
02 Mar FuboTV Q4 2020
02 Mar HPE fiscal Q1
03 Mar Avast FY results
03 Mar Marvell Technology fiscal Q4
03 Mar Vivendi Q4 2020
04 Mar Telesat Q4
04 Mar Broadcom fiscal Q1
04 Mar MTS Q4 2020
04 Mar Ciena fiscal Q1
04 Mar Inwit Q4 2020
05 Mar Vonage Investor Day
::: More Calendar Items