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Eelectrical goods retailer Darty swings to first-half loss

Darty, Europe's third-largest electrical goods retailer, said it was working on eliminating losses in its non-core markets as part of a strategic review of its operations.

The France-based retailer, formerly known as Kesa, said it would review operations in Spain, the Czech Republic, Slovakia, and Turkey.

It would strengthen its developed businesses in France, Belgium and Netherlands.

Darty sold its loss-reporting Italian operations last month.

The company posted an adjusted loss before tax of €10.8m for the six months to the end of October. It reported a profit of €12.1m a year earlier. Revenue fell 1.7% on a like-for-like basis.

The company said its finance director Dominic Platt will serve as interim chief executive until it finds a replacement for Thierry Falque-Pierrotin, who stepped down in September.

Electrical goods retailers in Europe are fighting a fall in demand and deep discounting by online retailers as the region grapples with high unemployment, tough government spending cuts and rising prices.