October 17, 2019 / 4:58 PM / a month ago

Retailer FNAC Darty reports higher third-quarter revenue, confirms outlook

(Reuters) - French retailer FNAC Darty (FNAC.PA) reported on Thursday an increase in third quarter revenue, driven by a strong performance in Benelux thanks to its partnership with Dutch online retailer Wehkamp and domestic appliances sales in Belgium.

Third-quarter revenue for Benelux rose 9.5% on a like-for-like basis to 250 million euros.

FNAC Darty’s Dutch subsidiary BCC, specializing in electronics and household appliances, teamed up with Wehkamp in July 2018.

Consolidation of recent acquisitions and the Wehkamp partnership are expected to bring additional revenue of about 200 million euros in 2019, the company said.

Third-quarter group revenue increased to 1,816 million euros ($2.02 billion), up by 1.7% on a like-for-like basis and 3.7% on a reported basis, the company said.

The group said it achieved double-digit growth in digital, which represented 19% of revenue for the period.

FNAC Darty said it expects to open around 60 shops in 2019.

The company also confirmed its medium-term objectives and a current operating margin between 4.5% and 5%, adding it expects to outperform its markets in the fourth quarter.

Reporting by Michal Aleksandrowicz in Gdansk; Editing by Chizu Nomiyama and Alexandra Hudson

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