Metro Group records solid Q1 | Progresiv
The Metro Group has reported solid sales growth for its first quarter, even as it retained its full-year forecast. 
For the three months, reported sales were down 0.6% to 17 billion euros (-0.4% in constant currency terms), although like-for-like sales were up 0.1%. Reported sales were down slightly due to the sale of the Cash & Carry Vietnam unit.
The Cash & Carry division said sales were down 0.3% to €8bn (-0.1% constant-currency), but LFL sales rose by 0.7%. Sales were down in Germany, Belgium and the Netherlands, although the group did well in Spain, Turkey, and China.
The Media-Saturn reported flat sales of 6.9 billion euros (+0.3% constant-currency), and LFL sales were flat as well. And finally, the Real hypermarket saw sales drop 4% to 2.1 billion, with LFL sales down 1.7%.
Olaf Koch, Chairman of the Management Board, noted: “All in all we performed solidly in the Christmas quarter in a challenging market environment. We maintain our forecast for the financial year 2016/17”. (www.kamcity.com)
