German Metro Group’s Q1 turnover has dropped 0.6 % compared to the year before, although there is a slight 0.1 % like-for-like turnover increase.
Improved online Media-Saturn sales
Metro Group’s preliminary results show that the German group managed a 17 billion euro turnover in its first quarter, down from 17.1 billion euro the year before. However, the drop is entirely because it sold Metro Cash & Carry Vietnam.
Metro Cash & Carry‘s turnover remained stable at 8 billion euro, but there was a 0.7 % like-for-like turnover growth. Turnover in Belgium, Germany and the Netherlands did drop, but performances in Spain, Turkey and China were positive.
Media-Saturn‘s turnover also remained stable at 6.9 billion euro: despite shutting down Redcoon in five countries, the company’s online turnover grew 25 % compared to the year before.
Department store chain Real‘s like-for-like turnover dropped 1.7 % to 2.1 billion euro, mainly because of store closures and lower food sales following stronger competition in that particular market.
