Electrical and electronic retailer Darty Plc (DRTY.L), formerly Kesa Electricals plc, announced a trading update for the fourth quarter period from 1 February to 30 April. Total revenue for the fourth-quarter down 0.8 per cent on a like-for-like basis, with an improved trend through the quarter, while it declined 3.8% on Local Currency basis. The total revenue result for the quarter excluded Darty Italy.
Gross margin overall was down 20 basis points reflecting product mix and challenging market conditions with increased promotional activity in some countries, partially off-set by an improved performance at Darty France.
Darty France strongly outperformed the market for the period, with market share gains in all major product categories. Total revenue was down 6.0 per cent and down 2.2 per cent excluding Darty Telecom. On a like-for-like basis sales fell 2.7 per cent.
At Vanden Borre in Belgium and BCC in the Netherlands revenue grew by 5.1 per cent and by 3.7 per cent on a like-for-like basis with growth at both businesses against a solid performance last year. Web-generated sales continued to grow strongly, up over 40 per cent to 9 per cent of total product sales.
Revenue at Datart and Darty Turkey fell by 1.7 per cent in local currency and by 2.1 per cent on a like-for-like basis, with an improved trend in both businesses compared to the previous quarter.
Adjusted profit before tax for the year to 30 April 2013 for the Continuing Group is expected to be in line with current market expectations.
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