German retailer Metro Group recorded a 1.5% rise in like-for-like sales in the year to 30 September.
Reported sales of €59.2bn were 1.2% short of the previous year’s figure due to “negative currency and portfolio effects”, though sales in local currencies increased by 0.5%.
Metro’s like-for-like sales rose by 1.3% in the fourth quarter, with both Metro Cash & Carry and Media-Saturn recording increases in like-for-like sales in the quarter. Reported fourth quarter sales fell by 1.1% to €14.2bn again due to currency effects, while local sales were up by 1.9%.
Metro Cash & Carry like-for-like sales rose by 0.9% in full financial year, but reported sales fell by 2.7% to €29.7bn primarily due to the weakness of the Russian rouble.
The chain opened 22 stores and disposed of or closed 24. Of the new stores, 11 are located in Russia and 6 in China.
Chairman Olaf Koch commented: “Financial year 2014/15 was a turning point for Metro Group. We managed to make our core business dynamic again and strengthened our balance sheet even further.”
“Following the successful sale of Galeria Kaufhof, we also once again have the financial means to make further acquisitions to supplement and strengthen our sales lines, such as the recently acquired companies Classic Fine Foods and RTS.”
Metro’s like-for-like sales rose by 1.3% in the fourth quarter, with both Metro Cash & Carry and Media-Saturn recording increases in like-for-like sales in the quarter. Reported fourth quarter sales fell by 1.1% to €14.2bn again due to currency effects, while local sales were up by 1.9%.
Metro completed the sale of Galeria Kaufhof for €2.8bn, including a cash payment of €1.75bn, during the fourth quarter. It also made two acquisitions in the fourth quarter: food service company Classic Fine Foods and electrical service firm RTS.
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