Metro Group returns to profit in third quarter

Metro Group returns to profit in third quarter

German Metro Group has managed to generate a 115 million euro profit in the third quarter of its current fiscal year, which is a significant improvement over last year's 63 million euro loss.

Turnover drop because of exchange rates

Metro Group's turnover did drop 1.4 % to 14 billion euro, while its like-for-like turnover dropped 0.4 % as Easter came early this year and that period's positive sales boost now largely fell into the previous quarter.

 

Metro Cash & Carry's turnover dropped 1.3 % to 7.45 billion euro (+ 0.1 % like-for-like). Here, the lower turnover was mainly because of the weaker ruble: its Eastern European turnover dropped 4.7 %, taking into account the exchange rate fluctuations, but grew 2.3 % in local currency.

 

Within the Media-Saturn group, turnover grew 1.2 % to 4.62 billion euro, even though there was a mere 0.2 % like-for-like turnover growth. A strong focus on online sales saw that department 24 % to 0.4 billion euro.

 

Department store chain Real's turnover dropped 9.4 % to 5.94 billion euro because of the selling of its Eastern European stores: only a 0.6 % turnover drop remained on a like-for-like basis.

 

Metro also announced it has acquired Classic Fine Foods, an Asian company that services high-brow restaurants and hotels with products like dairy, meat, pasta and other food items, for 290 million dollars (260 million euro).

Questions or comments? Please feel free to contact the editors


American department store chains continue to struggle

11/08/2017

Several American department store chains continue to underperform. Both Macy’s and Kohl’s experienced turnover slumps compared to the previous year, even though they both managed to beat analysts’ expectations.

Record turnover for Henkel

10/08/2017

Henkel’s second quarter turnover reached a record number of nearly 5.1 billion euro, thanks to its laundry detergent company Sun’s acquisition. For the first time ever, its six-month turnover surpassed the 10 billion euro milestone.

Lion Capital once again wants to sell Hema

08/08/2017

Lion Capital has approached business bank Credit Suisse to look into “strategic options” for Hema, which basically means it has to find an interested buyer for the Dutch store chain.

British consumer spending continues to drop

07/08/2017

Consumer spending in the UK has dropped for the third straight month in July. It is the first time in four years that there was a three-month drop, with analysts pointing to the Brexit.

Over 100 startups at Shoptalk Europe

04/08/2017

(advertorial) Shoptalk Europe is the big, new event for retail and ecommerce innovation. It covers the transformational trends, technologies and business models reshaping how consumers discover, shop and buy in an age of digital disruption. 

Bic lowers full-year growth forecast

03/08/2017

French company Bic, known for its disposable lighters, ball-point pens and razor blades, has seen its sales stagnate over the past six months. The board has immediately lowered its full-year growth forecast.

Back to top