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Metro sales marginally down in Q3

RBR Staff Writer Published 18 October 2013

German department stores operator Metro reported that its third-quarter sales of €15.5bn in 2013 were slightly below last year's €15.9bn, mainly due to the Real Eastern Europe sale and negative currency effects.

In third quarter, the retailer witnessed improved like-for-like sales trends across all sales lines, especially in Germany.

During the period from January to September 2013, sales of METRO Cash & Carry fell by 2% to €22.6bn. It generated a like-for-like sales growth in Western Europe, Eastern Europe and Asia/Africa.

At Media-Saturn, sales receded slightly by 0.1% while sales in the short financial year 2013 climbed by 0.6%.

Metro Management Board chairman Olaf Koch said, "Especially the clearly positive like-for-like sales growth of 1.0% in Q3 2013 in Germany shows that we are on the right track with regard to the customer-centric realignment of METRO GROUP. We are well-prepared and confident for the upcoming Christmas trading period."

Metro's Real generated sales of €2.3bn following €2.6bn in the year-earlier period for third quarter while from January to September 2013, the chain generated sales of €7.3bn.

At Galeria Kaufhof, sales receded slightly by 0.5% during the short financial year 2013. Like-for-like sales grew by 0.9%.

During third quarter, Metro successfully completed divestment of Real Romania as well as METRO Cash & Carry properties in France.

It opened six METRO Cash & Carry stores, of which four were opened in China in late September.

Metro operates through: METRO/Makro Cash & Carry - the international leader in self-service wholesale, Real hypermarkets, Media Markt and Saturn - European market leader in consumer electronics retailing, and Galeria Kaufhof department stores.

Presently, it operates around 2,200 stores in 32 countries.