GERMANY: Metro Group sees sales decline in first nine months of year | Progresiv

Metro Group has posted sales of 45 billion euros for the first nine months of the year, a -1.2% decline on the same period last year, according to accounts just filed. GERMANY: Metro Group sees sales decline in first nine months of year

The German retail and wholesaling group’s domestic business posted sales roughly in line with last year (-0.3%), however its International (-1.8%) and Eastern Europe (-9.9%) both saw declines. Its Western Europe business was marginally up (+0.7%).

In Asia/Africa, however, the group posted a strong performance, with sales up 18.1% to 3.2 billion euros.

In terms of Q3, its Metro Cash & Carry operation posted a sales decrease of -1.3% in the third quarter of the year, while its Real hypermarket operation saw sales decline -8.2% due to the sale of its Real Eastern Europe business. In Germany, Real declined by -3.7%. The period saw the group sell its Galeria Kaufhof business to Hudson’s Bay, a process that is still awaiting competition approval. It is expected to close in September 2015.

In a statement, Metro Group said, “For financial year 2014/15, Metro Group expects to see a slight rise in overall sales of continuing operations, despite the persistently challenging economic environment. In like-for-like sales, the group foresees a slight increase that will follow the 0.1% gain in the previous year.”

Meanwhile, according to Bloomberg, Metro has agreed to buy Classic Fine Foods Group, a Singapore-based supplier of gourmet products, for as much as 328 million dollars to expand its wholesale business.

Private-equity company EQT will sell the business for an enterprise value of 290 million dollars and an additional payment of as much as 38 million dollars depending on its performance. Classic Fine Foods distributes high-end items to hotels and restaurants in 25 cities, mostly in Asia. (www.esmmagazine.com)

magazine diana
Magazine DIANA deschide o nouă locație în județul Dâmbovița
Rețeaua de Magazine DIANA a deschis o nouă locație în Potlogi, județul Dâmbovița, ajungând astfel la 83 de unități comerciale. Magazinul...
Achizitie LaFantana tranzactie axel johnson oresa. vezi mai multe pe revistaprogresiv.ro.
Axel Johnson achiziționează La Fântâna de la Oresa
Axel Johnson Inc. (AJI) anunță achiziția companiei La Fântâna S.R.L, unul din principalii furnizori pe piața soluțiilor de apă din Europa...
Lidl extinde rețeaua de magazine la nivel național. citeste mai mult pe revistaprogresiv.ro
Lidl România deschide un nou magazin în Timișoara și ajunge la o rețea națională de 361 de locații
Lidl continuă investițiile pe plan local prin deschiderea unui nou magazin în municipiul Timișoara, județul Timiș, acesta fiind magazinul cu...
cumparaturi_de_alimente_2
Furnizorul care pune la raft brandul propriu și marcă privată vinde de 48 de ori mai mult produsul private label
Ultimii ani au adus schimbări profunde pe piața FMCG, acestea fiind influențate de mai mulți factori de presiune economică și socială. Un...