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Metro Turnaround Continues, As Q4 Sales 'On A Par' With Last Year

Published on Oct 15 2020 8:38 AM in Retail tagged: Featured Post / Russia / Metro / wholesale / Paywall / World News

Metro Turnaround Continues, As Q4 Sales 'On A Par' With Last Year

Wholesaler Metro said that its fourth quarter like-for-like sales performance was 'roughly on a par' with the previous year, driven by a 'notable' recovery in HoReCa sales.

The group posted a 0.5% decline in like-for-like sales in the period, and said that its sales for the full year were down 3.9%, at the upper end of its previously issued guidance (-3.5% to -5%).

“Despite COVID- 19, we successfully completed the large portfolio projects in the past financial year,” said Olaf Koch, CEO of Metro AG. “In this challenging year, our holistic wholesale approach and diverse customer groups have proven to be very robust."

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