October 25, 2017 / 5:38 AM / a year ago

UPDATE 1-Ceconomy quarterly sales helped by new product launches

* Q4 sales 5.3 bln euros vs analyst consensus for 5.2 bln

* Online sales rise 21 pct

* New mobile, entertainment products help sales

* FY EBIT guidance confirmed (Adds details, background)

BERLIN, Oct 25 (Reuters) - German consumer electronics retailer Ceconomy reported strong sales growth in its fiscal fourth quarter on Wednesday, helped by new product launches and expansion online.

Ceconomy, which split from retail group Metro in July, reported quarterly sales rose 4.6 percent to 5.3 billion euros ($6.23 billion), above average analyst forecasts for 5.2 billion, according to Thomson Reuters SmartEstimates.

Ceconomy said like-for-like sales rose 5.8 percent, while online sales were up 21 percent.

It said sales were supported by a favourable comparison base, new product launches in the mobile phone and entertainment segments and investments in selected markets, with home market Germany particularly strong and growth also robust in Spain, Italy and the Netherlands.

French peer Fnac Darty, which is 24 percent-owned by Ceconomy, last week reported a 5.8 percent rise on a like-for-like basis in its quarterly revenues, driven by telephony, video games and small household appliances.

Ceconomy reiterated that it expects full-year earnings before interest and taxation (EBIT) before special items to be slightly higher than last year’s 466 million euros. It reports full 2016/17 results on Dec. 19. ($1 = 0.8505 euros) (Reporting by Emma Thomasson; Editing by Ludwig Burger and Victoria Bryan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below