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Darty warns on year profit as sales trends soften

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(Globalpost/GlobalPost)

LONDON, Feb 15 (Reuters) - Europe's No. 3 electrical goods retailer Darty warned on year profit after sales trends softened at the end of its third quarter with markets becoming more promotional.

"If these conditions continue then adjusted profit before tax for the year to April 30 2013 for the continuing group is unlikely to achieve the lower end of current market expectations," the firm said on Friday.

It said the lower end was 30 million euros.

Darty said total revenue in the 13 weeks to Jan. 31, its fiscal third quarter, fell 2.5 percent, with sales at stores open at least a year down 0.5 percent. Gross margin was down 110 basis points.

http://www.globalpost.com/dispatch/news/thomson-reuters/130215/darty-warns-year-profit-sales-trends-soften