The Fnac-Darty group has reported sales of 1793 ME for the 1st quarter, up +0.7% on Q1 2023 as reported (-0.8% like-for-like).

The Group's gross margin increased by 10 basis points compared with Q1 2023. Adjusted for the dilutive impact of the franchise, it is up 30 basis points.

"In a market with contrasting performances, the Group is once again demonstrating the relevance of its sustainable, omnichannel and service-oriented strategy," says Enrique Martinez, CEO of Fnac Darty.

Fnac Darty confirms that growth is set to resume in 2024, underpinned by falling inflation and a declining savings rate. The group confirms its objective of achieving Operating Income Recurring (OIR) for 2024 at least equal to that of 2023, and cumulative operating free cash flow of around 500ME over the period 2021-2024, i.e. a level of 180ME in 2024.

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