German Metro Group has managed to reach its 2013/2014 forecast, reaching a marginal like-for-like turnover growth of 0.1%.
63 billion euro turnover
Even that small growth is a significant improvement compared to the - 1.3 % from last year. Total revenue grew 1.3 % to 63 billion euro, comparable with its forecast. Metro's like-for-like turnover grew 0.7 % (to 15.1 billion euro) in its fourth quarter.
Metro Cash & Carry's like-for-like turnover grew for the fifth quarter in a row, mostly thanks to its 50-year anniversary festivities. The division's turnover reached 30.5 billion euro in 2013/2014.
Media-Saturn's like-for-like turnover grew 1.8 % to 21 billion euro with particularly Eastern European growth. Its main growth markets were Russia and Hungary, while multichannel investments also paid off.
Store chain Real took a huge hit after it had sold the Eastern European branch. Turnover dropped 18.7 % to 8.4 billion euro. Galeria Kaufhof managed to keep things pretty much level at 3.1 billion euro.
By the end of September 2014, Metro Group had 2,200 stores, 21 fewer than the year before. It had opened 68 new stores, but closed down 89 as well.