German Metro Group had to allow a 1 % turnover drop in its second quarter, because of its international activities. The German market provided the company with a turnover boost, but that was too small to compensate fully.
Strong online sales surge
In the company’s second quarter for the current fiscal year, turnover dropped 0.9 % to 13.57 billion euro, despite a German 1.7 % turnover increase to 5.37 billion euro. However, in other markets, turnover dropped 2.5 % to 8.2 billion euro. The company did experience a 0.6 % like-for-like turnover increase, with a contribution from every division. Metro Group suffered a small 43 million euro loss in the second quarter, compared to a 63 million euro loss the year before.
Metro Cash & Carry’s turnover reached 6.5 billion euro, down 2.9 % compared to the year before, but like-for-like turnover did grow 0.5 %. Media-Saturn‘s turnover grew 1.9 % (+ 0.7 % on a like-for-like basis): the seventh straight quarter of growth for the group’s turnover. Online sales even grew 9.6 %, up to 500 million euro, although Redcoon’s online sales dropped: Media Markt and Saturn’s online sales grew 35 %, offsetting Redcoon’s drop.
Real’s turnover dropped 1.6 % to 1.8 billion euro, although it did experience a 0.5 % like-for-like turnover growth. Its online sales did perform well, increasing 60 % to 37 million euro over the first 6 months of its fiscal year.
