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Metro confident for Xmas as Media-Saturn sales improve
October 20, 2014 / 5:41 AM / 3 years ago

Metro confident for Xmas as Media-Saturn sales improve

BERLIN, Oct 20 (Reuters) - Germany’s Metro AG said it was optimistic for the crucial Christmas trading period as it saw an improvement in sales at its struggling consumer electronics unit in the July to September quarter.

Sales rose a like-for-like 0.7 percent to 15.1 billion euros($19.3 billion) in the final quarter of its 2013/14 fiscal year due to gains at all its units - cash-and-carry stores, consumer electronics, Real hypermarkets and Kaufhof department stores.

“With Christmas approaching, Metro Group is well prepared and optimistically entered the current quarter,” it said in a statement as it confirmed an outlook for 2013/14 earnings before interest and tax of 1.750 billion euros based on constant currencies.

Metro, Europe’s fourth-biggest retailer which operates a sprawling empire of 2,200 outlets in 31 countries, has been trimming its portfolio to focus on its cash and carry and consumer electronics stores.

Metro reports full results on Dec. 16. (1 US dollar = 0.7839 euro) (Reporting by Emma Thomasson)

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