Metro: low like-for-like growth in first quarter
(CercleFinance.com) - According to preliminary figures, German retailer Metro's like-for-like sales in the first quarter of 2017/2018 have only slightly surpassed sales in the same period of the previous year.
The Düsseldorf-based group said total sales remained stable at 10.1 billion euros in the three months to 31 December 2017, with like-for-like sales growing 0.8%.
Sales at the wholesale unit were supported by major developments in Eastern Europe and like-for-like growth in Germany, while Real supermarkets recorded solid Christmas business, following a successful brand relaunch in November, the retailer said.
"We had a solid Christmas quarter in a challenging market environment," said management board chairman Olaf Koch.
After first quarter sales were in line with the group's outlook for the full financial year, Metro said it remained committed to its guidance for the 2017/18 financial year.
Listed in Francfort, the shares are currently down 3.4% at 16.58 euros this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Düsseldorf-based group said total sales remained stable at 10.1 billion euros in the three months to 31 December 2017, with like-for-like sales growing 0.8%.
Sales at the wholesale unit were supported by major developments in Eastern Europe and like-for-like growth in Germany, while Real supermarkets recorded solid Christmas business, following a successful brand relaunch in November, the retailer said.
"We had a solid Christmas quarter in a challenging market environment," said management board chairman Olaf Koch.
After first quarter sales were in line with the group's outlook for the full financial year, Metro said it remained committed to its guidance for the 2017/18 financial year.
Listed in Francfort, the shares are currently down 3.4% at 16.58 euros this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.