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Metro: Russia Sales Decline Slows 'Significantly' In Q3

Published on Aug 2 2018 8:55 AM in Retail tagged: Featured Post / Russia / Metro / wholesale / Real / Paywall

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.

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