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Fnac Darty's sales to take hit from 'yellow vests' protests

Reuters 

(Reuters) - Darty, the and home appliances retailer, said on Wednesday the "yellow vests" protests in and would have a negative one-off impact on year-end revenues in those countries.

The impact is estimated at around 45 million euros ($52 million) due to store closures and lower traffic caused by the protests, the company said.

also said that 2018 current operating income growth was also expected to take a hit.

is the first French retailer to provide details of the financial impact of the protests which have hit and other French cities as well as

In December, the estimated that the anti-government protests would have an impact of around 2 billion euros in lost revenue for French retailers.

Fnac also said that the integration of retailer Darty, which it acquired in 2016, was going to plan and it reaffirmed its goal of 130 million euros in synergies at the end of 2018.

The group also confirmed its mid-term objectives of higher growth than its markets, and a current operating margin between 4.5 and 5 percent of sales.

The company will announce its final earnings numbers for 2018 on February 20 after the stock market close.

($1 = 0.8672 euros)

(Reporting by Piotr Lipinski in Gdynia; editing by David Evans and Jane Merriman)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 09 2019. 23:32 IST
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