The German Metro Group has reported sales fell by 0.8 per cent to €66.7 billion in the fiscal year 2011. The exchange rate activity and underperforming Christmas business were partly to blame for the fall in trade. Sales declined by one per cent to €25.9 billion in the group’s home market.
In Western Europe, sales fell by 3.1 per cent to €20.9 billion. In Eastern Europe, sales rose 0.4 per cent to €16.9 billion. Metro Group is planning to invest in its service offers in 2012 while working on its competitiveness – to include steps from the Shape 2012 programme and targeted price investments. "We achieved our cost-saving targets with Shape 2012, but still see a lot of potential with regard to productivity gains," said Metro Group CEO Olaf Koch.
When implementing its strategic plans, Metro Group will put a special focus on two divisions with the highest sales and earnings levels - Metro Cash & Carry and Media-Saturn. (20 Feb)
© 2012 ESM: European Supermarket Magazine
