Ceconomy (the former Metro branch that owns electronics chains Media Markt and Saturn) has announced a thorough restructuring, which may cause up to 3,500 jobs being cut and several stores closed all over Europe.
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Dutch electronics retailer Coolblue has expanded to Germany, with an e-commerce pilot in Düsseldorf launched today. The aim is to open physical stores soon as well.
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Two milestones in one for Dutch electronics retailer Coolblue: its new store in Brussels is its largest so far, and the first in (partly) French-speaking territory.
As Ceconomy (the owner of the MediaMarkt and Saturn chains) was forced to close its stores for a while due to the corona crisis, it suffered huge quarterly losses and had to ask for state aid in Germany.
Fnac Darty is the first large French company to receive state aid to weather the coronavirus crisis. The electronics and multimedia group borrowed half a billion euros with a state guarantee.
Amazon has decided to delay its annual discount day Prime Day due to the corona crisis, a decision that may cost the company some 300 million dollars (270 million euros).
Ceconomy, the parent company of electronics chains MediaMarkt and Saturn, is in talks with the German national bank about obtaining two billion euros in state aid. The German retailer claims to need the support due to the corona crisis.
A French judge has imposed a record fine of 1.1 billion euros on Apple, which would have disadvantaged independent distributors with price-fixing and exclusion.
Fnac Darty's turnover rose slightly in 2019, as new activities were successfully integrated. The French electronics group remains cautious for 2020.
Coolblue has raised its prices significantly and halted marketing and affiliate actions - without communication. Due to the corona crisis, it seems: the Dutch retailer is afraid a reduced production in China will cause empty shelves and acts preemptively. But is that all there is to it?
Dutch e-tailer Coolblue has reached a record turnover of 1.5 billion euros in 2019. Now it wants to invest in an expansion into Brussels and Wallonia, new stores in the Netherlands and services such as home delivery by bike and installation of appliances.
Dutch electronics giant Philips is going to divest its household appliances division. As such, the manufacturer is will soon say goodbye to its vacuum cleaners, coffee makers and irons.
Soon the Chinese smartphone manufacturer Xiaomi, the fourth largest in the world, will open its first physical store in the Benelux. That first store will be in Rotterdam, according to published job offers.
The social unrest in France has caused Fnac Darty to have a disappointing fourth quarter. It also became known in the margins that the company is looking for a partner for its Dutch subsidiary BCC.
Bose is going to close half of its stores worldwide: a complete retreat from Europe, North America, Japan and Australia leaves only stores in four Asian countries. The specialist in audio equipment says too many people have switched to buying its products online.
Electronics chain MediaMarkt wants to open an online market place in May 2020. This would debut in Germany and should make it possible to expand the product range on offer.