PARIS, October 27 (Reuters) – Fnac Darty fell on the Paris Stock Exchange on Friday after the downward revision of its current operating profit forecast for 2023, with the specialized distributor citing “a degraded consumer context”.
At 11:28 a.m., the stock lost 3.29% to 19.69 euros after having lost up to 14% earlier in the session.
“After stable activity in the third quarter and in a degraded consumption environment, Fnac Darty is cautious about the rebound in consumption initially anticipated,” commented the group Thursday evening in a press release.
If the group says it is confident for the fourth quarter with end-of-year sales, it has nevertheless revised its forecast for current operating profit to around 180 million euros compared to around 200 million euros previously.
In the third quarter, Fnac Darty’s turnover fell 0.5% to 1.84 billion euros.
The reduction in the forecast “is not a surprise, because the 200 million euros was not in line with the fundamentals and the current economic environment, but the market is not forgiving anything at the moment”, underlined an analyst . (Written by Blandine Hénault, with Olivier Cherfan, edited by Jean-Stéphane Brosse)
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