Metro Group Posts Slightly Better Like-For-Like Sales In 1Q Of 2015-2016

Retail company Metro Group reported like-for-like sales grew slightly at 0.1 percent in the first quarter of operating year 2015-2016, compared with the same period in the previous year. In Germany, like-for-like sales during the Christmas shopping period grew 2.1 percent. Reported sales, however, declined 1.5 percent to €17.1 billion, due to adverse effects of foreign exchange moves, primarily that of the Russian ruble, compared with the same quarter in the previous year. Sales growth at Metro Cash & Carry, adjusted for currency fluctuations, compensated for portfolio changes. Media-Saturn business posted positive sales growth in Germany and Western Europe.