Fnac Darty: sales up 1.8% in third quarter, driven by Europe excluding France
Fnac Darty reported on October 21, 2026 revenue of 2,509 million euros in the third quarter, up 1.8% on a comparable basis, a more marked increase than over the first nine months (+1.1%). The group confirmed its 2026 outlook as EP Group's public takeover bid, now authorized by the European Commission, enters its final phase. Shareholders have until November 9, 2026 to tender their shares to the bid, at a price of €35 per share.
Third quarter up 1.8%, driven by Italy and the Iberian Peninsula
In the third quarter, revenue stood at 2,508.6 million euros, compared to 2,460.7 million euros a year earlier on a restated basis, representing an increase of 1.9% on a published basis and 1.8% on a comparable basis (excluding foreign exchange, scope, and store openings or closings effects). 2025 figures have been restated for the reclassification of Nature & Découvertes under IFRS 5 standard.
The Rest of Europe reached 1,069.0 million euros in the quarter, up 5.0% on a comparable basis. Italy, the leading market in the region with 643.0 million euros, advanced 5.0%, Spain 9.6%, Portugal 6.3% and Belgium 4.1%. Switzerland was nearly flat (+0.3%).
France, with 1,439.6 million euros, declined 0.4% on a comparable basis. Over nine months, the group's revenue reached 6,965.7 million euros, up 1.1% on a comparable basis, with a decline of 0.6% and the Rest of Europe advancing 3.5%. For reference, restated 2025 revenue was 10,329.8 million euros.
Online sales up 5.3%, services and household appliances providing support
At end of September, in-store sales were flat, while online sales advanced 5.3%. They represent more than 21% of the group's total sales, driven notably by its marketplaces. In-store collection of online orders (Click & Collect) accounts for nearly 50% of this activity.
By category, household appliances advanced, with small appliances (floor treatment, coffee, seasonal products) and major appliances (air conditioners, refrigerators). Computer sales benefited from the end of Windows 10 support. Conversely, editorial products declined, due to an unfavorable base effect in video games following the Nintendo Switch 2 launch in 2025, and books are down.
In France, the group indicates that business remains affected by a weak consumer environment. Chief Executive Officer Enrique Martinez also mentioned stores "affected by theft and violence" in recent days, which the group intends to restore quickly. The store base fell from 1,484 stores as of December 31, 2025 to 1,453 as of September 30, 2026.
2026 outlook confirmed, EP Group offer at €35 until November 9
The group confirmed it anticipates for 2026 an increase in its current operating margin rate and operating cash flow. It also confirms the objectives by 2030 of its Beyond everyday plan, presented on June 11, 2025, as well as a target of at least 20 million euros in synergies related to Unieuro integration by end of 2026.
On the capital side, Fnac Darty and EP FR HOLDCo (a vehicle controlled by EP Group) announced on October 20, 2026 that they obtained authorization from the European Commission for merger control review, described as the last authorization expected. The AMF indicated on the same day that the offer would close on November 9, 2026, with settlement-delivery scheduled for November 12.
The offer price is €35 per share, following the payment on June 5, 2026 of a dividend of €1 for the 2025 financial year, and €81.16 per OCEANE. In case of success, the offer will be reopened for at least ten trading days.
