The coronavirus hits Ceconomy, as the MediaMarkt and Saturn owner sees fiscal Q2 (ending March 2020) sales drop by -6.6% to €4.6 billion, mainly due to to store closures brought about pandemic lockdown measures.
The retailer also reports adjusted EBIT for the quarter is down by €157 million to -€131m, while earnings before tax total -€391m, a massive drop from the €33m of the previous year. Profit is down from €20m to a loss of -€309m.