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Metro Group Sees Slight Increase In Like-For-Like Sales In Q1

By Steve Wynne-Jones
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Metro Group Sees Slight Increase In Like-For-Like Sales In Q1

Metro Group has posted a like-for-like sales increase of 0.1% in the first quarter of its 2016/17 financial year, with the retailer saying that it performed 'solidly in a challenging market environment'.

The group's EBIT after special items was €733 million, which is a decline on the €1,240 million for the same period last year, however that period included the income from the sale of Metro Cash & Carry Vietnam, the retailer said.

Sales were up in the group's cash & carry division, with delivery sales rising by 16.5%, now accounting for 12.7% of total sales. Real sales declined compared to the same period last year.

Earlier this week, Metro Group announced the completion of its purchase of French foodservice business Pro à Pro.

“We performed solidly in a challenging market environment during the first quarter of the new financial year, generating stable sales and EBIT and continuing our positive like-for-like sales development, particularly at Metro Cash & Carry,” said Olaf Koch, Chairman of the Management Board of Metro AG.

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“The sustained increase in online and delivery sales testifies to Metro Group's successful transformation. We remain confident that we will achieve our full-year sales and earnings targets for Metro Group.”

Looking ahead, Metro said that it 'expects to see a slight rise in overall sales, despite the persistently challenging economic environment'.

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up for ESM: The European Supermarket Magazine.

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