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Retail

Metro Group Lowers Outlook On Weak Russia Business

Germany's Metro Group has lowered its earnings outlook for its 2017/18 financial year, citing poor performance at its Russian operations, sending its shares lower.

Metro now expects earnings before interest, tax, depreciation and amortisation to increase only slightly, compared with previous guidance of a roughly 10 percent increase.

Metro, which runs wholesale stores in 35 countries as well as Real hypermarkets in Germany, expects sales to increase by only 0.5 percent, down from earlier guidance for a 1.1 percent rise.

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