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Wholesaler Metro Revises Forecasts Over Delayed Reopening Of Hospitality Businesses

Published on Apr 21 2021 9:28 AM in Retail tagged: Trending Posts / Germany / Metro / wholesale / Cash and Carry / Paywall

Wholesaler Metro Revises Forecasts Over Delayed Reopening Of Hospitality Businesses

The delayed reopening of hospitality businesses has prompted wholesale giant Metro to revise its guidance for the coming year.

The group said that according to preliminary figures for the first half of its 2020/21 financial year, total sales in local currencies were down 11.5% on the previous year, while EBITDA was down by around €120 million.

In updating its guidance, Metro said that the 'decisive exogenous factor is the continuous prolongation and a high volatility of regulatory measures related to COVID-19. These measures continue to significantly restrict public life in many of the Metro countries.'

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