Metro Group reports recovery 

  Metro’s slight dip in like-for-like sales of 0.5% in the fourth quarter constitutes a strong recovery in performance from the previous quarters (sales declined 5% in the first nine […]
Mon 26/10/2020

 

Metro’s slight dip in like-for-like sales of 0.5% in the fourth quarter constitutes a strong recovery in performance from the previous quarters (sales declined 5% in the first nine months of the year). According to IGD Retail Analysis, the group attributes the improvement to recovery of food service channels and a positive sales development in Germany, Russia and Eastern Europe, which account for over half of the group’s sales, while there has been a sequential improvement in Western Europe and Asia.

Sales were up 8.2% in Russia, climbed 2.7% in Germany, and rose 2% in Eastern Europe (excluding Russia). The group notes the positive effect of the relaxing of COVID-19-related measures and the numerous measures it had taken to strengthen the business operations.