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Germany's Kaufhof satisfied with Christmas trade - paper
December 29, 2012 / 1:13 PM / 5 years ago

Germany's Kaufhof satisfied with Christmas trade - paper

FRANKFURT (Reuters) - German department store chain Kaufhof MEOG.DE told a newspaper Christmas trading had been satisfactory, although bargain-hunting shoppers had waited until late to spend on presents, reflecting a trend across Europe.

“We are satisfied, even though we had two fewer selling days than in the previous year,” Kaufhof boss Lovro Mandac told German paper Welt am Sonntag, according to an advance copy of an interview to be published on Sunday.

Retailers across Europe have spoken of a “last minute” Christmas this year as cash-strapped consumers waited for shops to cut prices.

Even in relatively prosperous Germany, Christmas trading got off to a slow start before a final rush, retail association HDE has said.

Kaufhof is part of Metro, the world’s fourth-largest retailer which also runs cash and carries, consumer electronic stores and hypermarkets.

Metro is due to give a full update on 2012 trading on January 16.

Reporting by Victoria Bryan; editing by Jane Baird

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