(Boursier.com) — Like the market, Fnac Darty there is a nice rebound this weekend with shares rising 2.2% to 22.8 euros. The group, which has lost more than 35% since January 1 on the stock market, has finalized the acquisition of MediaMarkt in Portugal, a renowned distributor of electronic products which operates 10 stores as well as an online store, and employs around 450 people. throughout the country. In the 2021-2022 financial year, MediaMarkt Portugal recorded a turnover of approximately 140 million euros. Thanks to this acquisition, Fnac Darty consolidates its position as number 2 in Portugal, a dynamic market for the Group.
This operation does not fundamentally change the profile of the group, explains TP ICAP Midcap (‘keep’). Expectations are mainly short-term with consumer dynamics seemingly crumbling. The broker therefore expects a difficult Q3 that could call into question the group’s objectives.
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