- Media Market and Saturn are selling more TVs because of EM
MediaMarktSaturn, the electronics retailer, sold more TVs across Europe due to the football European Championship held in the summer. "The football Euros were a growth driver and we were able to score with higher sales. Particularly, TV devices were in high demand," said Karsten Wildberger, CEO of Ceconomy and its subsidiary MediaMarktSaturn.
In Germany, the number of TVs sold at MediaMarkt and Saturn in June and July was 57 percent higher than the previous year, the company announced. No figures were given. Particularly, TV devices with screen diagonals of 55 inches and above were in high demand. Air fryers and sound systems were also popular among customers. The electronics chain has around 400 stores in Germany and approximately 1,000 in Europe.
Ceconomy reported a revenue increase of over five percent to 17.1 billion euros in the first nine months of the year. The adjusted operating result (EBIT) increased by 53 million euros to 202 million euros compared to the previous year, according to Ceconomy. "We look back on a strong third quarter: we grew significantly in sales and further improved our profitability," said Wildberger.
The surge in TV sales during the European football championship significantly contributed to MediaMarktSaturn's success in various European countries. The increased demand for TV devices during the championship led to a 57% rise in TV sales in Germany alone.
