Darty reports a -66% drop in profits for the financial year ending April 2013 to €26.4 million, down from €78m from the previous year, as a weak economy and online sales continues to affect European retail.

Excluding Spain, Darty profits total €43.4m, compared to €94.2m for the previous FY.

Group revenues drop by -1.1% on a like-for-like basis and by -2.5% in constant currency to €3.8 billion, while losses reach €105.3m including discontinued operations and after exceptional costs worth €115.3m.

Microsoft is the next company (after Samsung and Apple) to take over Best Buy floor space-- the company plans to open a "comprehensive" Windows Store-within-a-store inside 600 Best Buy locations spread across the US and Canada.

Ranging from 140 to 204 square metres in size the mini Windows Stores host the gamut of Microsoft products, with Microsoft-trained staff showing customers products such as Windows tablets and PCs, Windows Phones, Office products and Xbox consoles.

The stores' design predictably remind of the Apple take on retail, being replete with benches and wooden flooring. An "innovation table" carries the newest devices, an "ecosystem section" shows how different Microsoft devices work together and the walls house accessories and software.

Media-Saturn buys the remaining 10% of shares in April 2011 acquisition redcoon from co-founder Reiner Heckel-- making the Metro-Saturn group full owner of the pan-European online retailer.

Neither retailer nor Heckel make available financial details of the acquisition.

Following the sale Heckel steps down as CEO, and will remain at redcoon in an advisory function. Replacing him in interim capacity is Media-Saturn Online VP Martin Wild.

“As our 3rd retail brand, redcoon is already an integral part of our Group which is developing very well and with which we still have a lot of things planned," Media-Saturn CEO Horst Norberg says. "It was only logical for us to acquire the remaining 10% offered and thus make redcoon a 100% subsidiary."

Euronics Germany becomes the owner of a CE retail outlet for the first time-- from June 2013 the group will be taking over the Euronics XXL outlet at Leinfelden-Echterdinger, Banden-Württemberg.

The retailer gives no financial details of the deal.

"As a cooperative we succeed the Beck family that has built Leinfelden," Euronics CEO Michael Niederführ says. "Our goal is to retain this store's performance and sales force, and to expand our innovative concepts."

For the sake of continuity, Beck Continue reading...

Samsung follows the likes of Apple and Google in the US as it makes further steps into retail-- it starts opening "Samsung Experience Shop" mini stores inside much larger Best Buy locations.

The store rollout kicked off on 27 April 2013 (the US Galaxy S4 launch date, non-coincidentally) at the New York Union Square Best Buy, a grand opening complete with CEO appearances (Samsung's JK Shin and Best Buy's Hubert Joly) and Bruno Mars performance.

Like the mini Apple Stores found at several Best Continue reading...

Best Buy exits the European market, selling its 50% stake in the Best Buy Europe joint venture back to UK retailer Carphone Warehouse for $775 million in cash and stocks.

According to the retailer Best Buy Europe revenues for fiscal 2014 (from 2500 small Carphone Warehouse stores in 8 European countries) are set to reach $5.5-5.6 billion, even if it will report Best Buy Europe results as "discontinued operations" from Q1 2014.

"Each international market is different and the sale of our European Continue reading...

As Best Buy appears to be getting back on its feet, The Wall Street Journal reports the retailer is set to dump at least one retail idea-- "Richfield," the store model "inspired" by the Apple take on retail.

According to the WSJ CEO Hubert Joly halted plans involving the Richfield model when he took over the retailer and, 6 months later, "his finger is still on the pause button."

How come? Joly's answer is "fixture changes [are not] a wise use of capital." The retailer also has bigger plans to Continue reading...

In a bid for stable leadership Darty hands Régis Schultz the mantle of CEO, ahead of the previously announced 1 May 2013 date.

The former BUT CEO (and once 16th-best French tennis player) replaces acting CE Dominic Platt, who reverts back to Financial Director, while Darty France managing director Bruno Cremell should step down by "mutual agreement" by end May 2013 following hand over procedures.

Schultz replaces Thierry Falque-Pierrotin, who stepped down on September 2012 due to shareholding flack over his receiving a "golden hello" worth £720000 in shares, a gift of sorts later described as a "mistake."