Ceconomy AG, a German consumer electronics retailer, reported a narrower adjusted EBIT loss in the third quarter with sales declining compared to the prior year. The company is on track to achieve its mid-term targets and expects a moderate increase in total sales by fiscal 2025, with adjusted EBIT expected to rise to around 375 million euros. In the third quarter, adjusted EBIT loss was 31 million euros, sales declined to 4.8 billion euros, and online sales grew by 12.2 percent. The negative EBIT is attributed to seasonal business patterns and lower consumer spending during the summer months.

Read more at Nasdaq.: Ceconomy Q3 Adj. EBIT Loss Narrows, Sales Down; Confirms Outlook