Fnac Darty hikes outlook getting boost from market dynamics, online

Fnac Darty hikes outlook getting boost from market dynamics, online
Fnac Darty hikes outlook getting boost from market dynamics, online   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<div> <p> – French retailer Fnac Darty slightly raised its full-year guidance on Thursday with revenue growth now seen to be above 5%.</p> <p>The seller of books, music and electrical equipment, which previously expected growth to be about 5%, said it expects 2021 current operating income to be in the upper end of the previous guidance of a range of 260 million-270 million euros ($302 million-314 million).</p> <p>Retailers have seen their in-store sales rebound in recent months as shoppers returned after months of pandemic-related closures, while online sales continued to grow. </p> <p>Fnac Darty’s total group sales for nine months were up 12.7% compared to the same period last year, with online sales accounting for 26% of revenue in the period. </p> <p>While global retail markets face supply chain disruptions ahead of peak shopping season, Fnac Darty’s <span class="caps">CFO</span> Jean-Brieuc Le Tinier said on a call with reporters that the group was not experiencing any problems at the moment. </p> <p>He said that despite a certain pressure on telephony and IT products the company was less affected thanks to its market share of high-end products, which offer higher margins and are less prone to get hit from raw material prices and inflation.</p> <p>Fnac Darty sales for the third quarter came in at 1.85 billon euros, down 0.5% year-on-year. </p> <p>($1 = 0.8591 euros)</p> <p/> </div>