Metro Cash & Carry celebrates 50th birthday | RetailDetail

Metro Cash & Carry celebrates 50th birthday

Metro Cash & Carry celebrates 50th birthday

METRO Cash & Carry celebrates its 50th birthday: the company launched its first German self-service wholesale department store on 25 October 1964. Now, 50 years later, it has stores in 28 countries.

31.2 billion euro turnover

METRO Cash & Carry's first wholesale store (Mülheim an der Ruhr) in 1964 was unique at the time: instead of placing orders with several suppliers, retailers and catering people were able to purchase everything at one location and take everything with them immediately.

 

It turned out to be a success and several hundred stores followed, turning METRO Cash & Carry one of the world's largest self-service wholesale store groups in the world with 763 stores in 28 countries across Europe, Asia and North Africa. 120,000 employees helped generate a 31.2 billion euro turnover in 2012-2013 thanks to nearly 20,000 food products and 30,000 non-food products.

 

METRO may have turned out a success in those 50 years, but growth has been harder to achieve over the past few years. The German company had announced in September that it wished to close its 5 Danish wholesale stores, with 700 employees, as they have been onerous for years. "Denmark is too small and too hard of a market for wholesalers", CEO Olaf Koch said.

Questions or comments? Please feel free to contact the editors


Belgian fund close to HEMA acquisition

09/05/2018

Belgian Core Equity holding is allegedly close to acquiring Dutch chain HEMA: a verbal agreement is apparently in place, all that is required are the signatures.

Walmart, not Amazon, will acquire Indian market leader Flipkart

07/05/2018

Despite Amazon’s attractive offer, Indian online retailer Flipkart has chosen for Walmart and (remarkably), Google owner Alphabet as the new owners of 75 % of Flipkart’s shares. The deal is said to be worth 15 billion dollar.

Alibaba's growth exceeds expectations

07/05/2018

Chinese retail group Alibaba has published better-than-expected quarterly results: turnover went through the roof, but its profit is under pressure because of increased investments.

Shareholders ‘not amused’ by Unilever CEO's wage increase

03/05/2018

One in three British Unilever shareholders voted against the company’s proposed remuneration plan. Investors in the Dutch part of the (currently) British-Dutch company will vote on the plan as well.

Macy's acquires New York-based concept store Story

02/05/2018

American department store chain Macy’s will acquire New York-based concept store Story. Founder Rachel Schechtman will become Macy’s’ “brand experience officer”.

RetailDetail Congress ‘The Future of Shopping’ had substance and style

27/04/2018

With six CEOs of major Belgian retailers, the 2018 edition of the RetailDetail Congress had an impressive line-up on stage the 26th of April.