Darty plc announces trading update for the fourth quarter period from 1 February 2014 to 30 April 2014 and for the financial year ended 30 April 2014

London, UK, 2014-5-22 — /EPR Retail News/ — Darty plc today announces a trading update for the fourth quarter period from 1 February 2014 to 30 April 2014 and for the financial year ended 30 April 2014, based on unaudited management accounts. Reflecting the evolving structure of the Group, all trading data for the prior quarters for the financial year ended 30 April 2014 are restated in an appendix to this statement, as is the segmental analysis for the 12 months ended 30 April 2013.

Summary

Good progress during the quarter, building on actions taken in the year in delivering our strategy ‘Nouvelle Confiance’:

  • ‘4Ds’ plan to Drive trading, Digitalise Darty, Develop the brand and Deliver cost efficiency
    • Further outperformance in our core markets in what is traditionally a seasonally quiet quarter. Continued growth of web-generated sales in our core businesses confirming customer demand for our multi-channel offer
    • Overall total revenue and like-for-like sales in France were broadly flat. Overall group gross margin was flat; gross margin in France was down 40 basis points
  • Steps taken to capture future growth opportunities and further strengthen Darty’s leadership position in France through the:
    • opening of our first four franchise stores as we expand into smaller catchment areas
    • completed acquisition of Mistergooddeal.com to extend the ‘low price/pay-as-you-go services’ offer
  • Further elimination of losses in our non-core markets with the completion of the disposal of Darty Turkey

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