The merger between Unieuro and Fnac Darty was officially notified to the European Commission only on October 31. Brussels officials have opened the ‘case’ M11662 as stated on the website and will communicate their decision by December 6.
Category Archives: Retail suppliers
CIH CEO
UK independent retailer buying group Combined Independents (Holdings) Ltd (CIH), part of Euronics, has announced that Paul Tyler will be stepping down as CEO from 4 April 2025.
Australian electricals and home retailer Harvey Norman opens first England store
The space will afeature home appliances, technology, and entertainment items from brands such as Dyson, Shark, Apple, Samsung, LG, Miele and Sage, with dedicated areas for each product category, including a cooking appliance centre
Curry Repair ads
Currys plc repairs service is the focus of a new marketing campaign from the UK retailer.
Aiming to raise awareness of its tech repairs capability – which take place at its dedicated site in Newark in the east midlands – the new cross-category ad campaign highlights how consumers can get their items fixed by Currys no matter where they originally purchased these goods.
The Currys repairs ads feature influencer and former World’s Strongest Man champion, Eddie Hall, who comedically dramatises his tech troubles in a four-part content series. Across the series, Hall explores all the Currys repair service has to offe
Currys CEO: VAT should be scrapped on refurbished electricals
Currys boss Alex Baldock has called on the government to slash VAT on refurbished electrical products to keep them out of landfills.
China’s trade-in policy energizes consumer market
In a significant push to stimulate consumer spending, China has rolled out an expansive trade-in policy across multiple sectors.
From automobiles and home appliances to real estate, the initiative aims to encourage the replacement of outdated goods with newer and more advanced options.
In the home appliance sector, the trade-in program has been well-received.
Beijing resident Yu Qian recently purchased a new refrigerator. “My old refrigerator was outdated. When I learned about the trade-in policy, I decided to upgrade. The model I wanted was originally priced at 8,999 yuan, but with the trade-in subsidy and various discounts from the store, I ended up paying only 7,020 yuan, saving quite a bit of money.”
Zhang Haibo, a sales supervisor at Suning, a major home-appliance retailer in China, echoed that many customers are attracted to the trade-in program, combined with government subsidies, store discounts and brand promotions.
Suning’s data reveals that nearly 40 percent of its consumers have chosen to purchase new home appliances through trade-in programs this year, including air conditioners, washing machines and large-screen TVs.
JB Hi-Fi Group to acquire E&S Trading
JB Hi-Fi Group has entered into an agreement to acquire E&S Trading , an Australian-owned family business retailer specialising in kitchen, bathroom, and laundry appliances.
The initial acquisition is of 75% for cash consideration of $47.8 million on a cash-free/debt-free basis with a put and call option arrangement for the acquisition of the remaining 25% in September 2029
Fnac-Darty wants to take over its Italian counterpart Unieuro to strengthen its position in Europe
Fnac-Darty has announced the launch of a project to acquire Unieuro SpA, the leading distributor of electronics and household appliances in Italy. “This project represents a unique opportunity for the Group to strengthen its position as a leader in specialized distribution in Western and Southern Europe, and a key player in the consolidation of the European market,” comments Enrique Martinez, CEO of Fnac-Darty. This merger with Unieuro SpA would create a group with a turnover of over €10 billion, 30,000 employees and over 1,500 stores, a leader in all its geographies. “This transaction is perfectly in line with our project
Currys upgrade stores
Currys has unveiled a store upgrade programme for its largest sites across the UK as part of its commitment to “make the customer shopping experience easier”.
The electricals retailer will transform 50 of its larger stores, which will see the inclusion of new categories, seasonal showcases, and a focus on “reinvigorating megastore entrance space”.
Currys Profit to Remain Flat
Currys is scheduled to report results for fiscal 2024 on Thursday. Here is what you need to know.
SALES FORECAST: For the year ended April 29, revenue is expected to fall to 8.62 billion pounds ($10.93 billion) from GBP9.51 billion a year ago, according to a company-compiled consensus. On a like-for-like basis, sales are expected to drop 2%, according to consensus taken from FactSet based on five analysts’ estimates Shares over the past 12 months are up 44%, and up 50% since the start of the year, mainly boosted by a bidding war between JD.com and Elliott Advisors. However, both parties walked away without making an offer.
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