Metro: Russia Sales Decline Slows 'Significantly' In Q3
Wholesaler Metro has said that the difficulties in its Russia business seem to be alleviating, saying that thanks to the introduction of 'suitable measures' to turn the Russian business around, the decline in sales there 'slowed significantly' in Q3.
Metro's Russia operation reported a like-for-like 3.2% decline in sales for the third quarter (-19.5% if negative currency effects are included). Like-for-like sales in Russia were down 7.0% for the first nine months of the year (-16.4% incl. currency effects).
"Russia is and will remain an important market for Metro," chief executive Olaf Koch said in a statement.
Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.
A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!