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Fnac Darty eyes higher margin mid-term, confirms talks with Carrefour
December 4, 2017 / 5:02 PM / 11 days ago

Fnac Darty eyes higher margin mid-term, confirms talks with Carrefour

PARIS, Dec 4 (Reuters) - French consumer electronics retailer Fnac Darty on Monday said it banked on merger synergies and its ability to deliver sales growth above that of its markets to lift its operating margin to between 4.5 and 5 percent mid-term from 2.7 percent in 2016.

Chief Executive Enrique Martinez confirmed during a call that Fnac Darty and French retailer Carrefour were discussing an alliance to negotiate better terms when purchasing from electronics suppliers and that a deal could be clinched soon.

Fnac Darty was created last year when Fnac, which sells books and music, won a bidding war with Conforama for control of household goods and electronics equipment maker Darty.

The retailer, which is 24 percent-owned by German peer Ceconomy, said it would open over 200 new franchise stores under its new strategic plan “Confiance +” and further invest in digital expansion. (Reporting by Dominique Vidalon Editing by Ingrid Melander)

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