Dutch e-tailer Coolblue has announced it will open its third store in Antwerp. It will be three times as big as the current store, its oldest existing store in Belgium. As such, the plans symbolise Coolblue's explosive growth in Belgium.
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Over the last three months, Ceconomy, the parent company of MediaMarkt and Saturn, has seen comparable sales increase by around 8 per cent. However, in Germany, the group's most important market, the recovery is slow.
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Coolblue’s Belgian turnover grows faster than its group turnover, thanks to the opening of new stores and the roll-out to the French-speaking part of the country. The retailer belongs to the winners of the corona crisis.
At the end of this year Coolblue will open its first German store, more specifically in Düsseldorf. About a year ago the electronics webshop started with its first deliveries in Germany.
Dutch e-tailer Coolblue is to open a sixth Belgian store in Kuurne by the end of the year, its first in the coastal province of West Flanders.
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As of 1 August Dr Karsten Wildberger will be the new CEO of Ceconomy. He will also become CEO of Media-Saturn-Holding-GmbH (MediaMarktSaturn), bringing an end to the double management structure.
Coolblue was able to quadruple its net profit last year: it went from 15.2 to 61.1 million euros. This implies a record-breaking profit for the electronics retailer, which is aiming for an IPO.
Kamera Express will acquire its German counterpart GM Foto. The Dutch photography and video specialist now operates another two superstores in Germany.
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Despite a strong first quarter, Fnac Darty upholds its outlook for 2021, targeting slight growth in sales and operating profit compared to 2020.
Dutch e-tailer Coolblue has delayed its IPO to "after the summer" as its shareholders need more time to prepare for the step. According to analysts, the decision is exceptional and not without any risk.