Its full year sales in Euro terms were up by 5.3% to E56.4bn, just under the 5.4% forecast, which implies a negative currency impact for the year.
Business for the last week of December came was below expectations due to poor pre-Christmas trading.
The company exceeded its store-opening target of 50 for Consumer Electronics stores, with a total of 69, seven of which were acquired. However, it fell behind its target of 40 new Cash & Carry stores with 33 actually built.
Shares in the company dropped 4.5% yesterday to E39.30.
Full details on its 2004 sales results will be released on 22 March.