Like-For-Like Sales Up Marginally At Metro Group In FY 2015/16
Metro Group has seen its like-for-like sales rise by 0.2% in full-year 2015/16, to €58.4 billion, according to results published this week (14 December).
The retail and wholesale giant said that its sales were impacted by negative currency and portfolio effects. EBIT from continuing operations before special items reached €1.56 billion (2014/15: €1.51 billion) for the period, while profit before special items rose to €727 million (2014/15: €688 million).
“Our company’s performance in financial year 2015/16 confirms that we are on the right track with our strategic focus on value creation for our customers and our continued transformation process," said Metro Group chief executive Olaf Koch.
"We achieved another increase in sales and earnings in a challenging market environment and met our forecast for the financial year, creating a solid foundation for the successful demerger of Metro Group."
Metro Cash & Carry saw a 0.6% increase in like-for-like sales for the year, and the business has now recorded sales increases in each quarter for more than three consecutive years. The business saw a 20.4% increase in delivery sales in local currency.
At its Real hypermarket business, like-for-like sales declined 1.1% in the financial year. Due mostly to store closures, reported sales fell by 3.3%, to €7.5 billion.
Commenting on Real's performance, Metro said, "The competitive environment in German food retail remains very tenuous, and deflationary trends in a large number of product groups are weighing on sales development."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.