The European Football Championship in Germany has brought good business for some retail companies. The electronics chain MediaMarktSaturn is also drawing positive conclusions.
The electronics retailer MediaMarktSaturn has sold more televisions across Europe due to the European Football Championship held in the summer. “The European Football Championship was a growth driver and we were able to score points with higher sales. There was particularly high demand for TV sets,” said Karsten Wildberger, head of Ceconomy and its subsidiary MediaMarktSaturn.
In Germany, the number of televisions sold at Media Markt and Saturn in June and July was 57 percent higher than in the previous year, the company announced. Unit numbers were not disclosed. Demand was particularly high for TVs with screen diagonals of 55 inches and more. Hot air fryers and sound systems were also popular with customers, it said. The electronics chain has around 400 stores in Germany and around 1,000 in Europe.
Ceconomy said it was able to increase its sales in the first nine months of the year by a good five percent to 17.1 billion euros. The operating result (EBIT) adjusted for special effects rose by 53 million to 202 million euros compared to the previous year, Ceconomy announced. “We can look back on a strong third quarter: We grew significantly in sales and further improved our profitability,” said Wildberger.
Source: Stern
