📈 Strong Sales Growth
Ceconomy, the parent company of MediaMarkt and Saturn, reported a 6.6% increase in sales, reaching €4.92B ($5.4B) in the third quarter. Comparable sales grew by 5.2%, surpassing analysts' expectations. Operating profit also saw a significant rise, increasing by €53M ($58.1M) to €202M ($221.6M) compared to the previous year.
⚽ Impact of the European Football Championship
The recent European Football Championship played a major role in boosting sales, particularly in television sets. According to Ceconomy’s CEO, Karsten Wildberger, the demand for TVs surged as fans upgraded their home viewing experience. This contributed significantly to the overall sales growth during the quarter.
💻 E-commerce Growth
E-commerce continued to be a strong growth driver, with online sales increasing by 10.9% to €1B ($1.1B) in the third quarter. The online revenue share, including the net merchandise value of the marketplace, grew to 22.1%. This highlights the ongoing shift towards online shopping among consumers.
📊 Retail Media Revenue Doubles
Another bright spot in Ceconomy's performance was the doubling of retail media revenues, reaching €18M ($19.7M). This growth reflects the increasing importance of retail media as a revenue stream, as advertisers capitalize on MediaMarkt’s broad consumer reach. The strong financial results indicate that the company is well-positioned for future growth.
Did the European Football Championship influence your purchases?
