Metro: shares up after good start to the year
(CercleFinance.com) - German retailer Metro said that it has achieved its best like-for-like sales growth in six quarters over the first quarter of 2018/19.
According to preliminary and unaudited figures, Metro's like-for-like sales in the quarter to December increased by 2.3% relative to the previous year.
While like-for-like sales in Germany showed a slight decline of 0.2%, Metro benefited from a strong development in Eastern Europe (+6.4%) and Asia (+5.9%).
Like-for-like sales in Russia, where the group is facing a number of difficulties, fell by only 2.4%.
The retailer also confirmed its outlook for the financial year 2018/19.
All this good news have led to the share rising by around 3% in Frankfurt this morning.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
According to preliminary and unaudited figures, Metro's like-for-like sales in the quarter to December increased by 2.3% relative to the previous year.
While like-for-like sales in Germany showed a slight decline of 0.2%, Metro benefited from a strong development in Eastern Europe (+6.4%) and Asia (+5.9%).
Like-for-like sales in Russia, where the group is facing a number of difficulties, fell by only 2.4%.
The retailer also confirmed its outlook for the financial year 2018/19.
All this good news have led to the share rising by around 3% in Frankfurt this morning.
Copyright (c) 2019 CercleFinance.com. All rights reserved.