GERMANY: Metro Group Q1 losses fall
Metro is cutting costs to boost profits
Metro Group, the German retail giant, has seen first-quarter losses fall on the back of cost-cutting moves and higher sales.
The group's net loss stood at EUR16m (US$21.3m) for the three months to the end of March - compared to EUR98m a year earlier. Sales rose 2.3% to EUR15.5bn.
"In some countries, the worst of the economic crisis seems to be over. Although the situation remains challenging, we see a first economic silver lining on the horizon", said CEO Dr. Eckhard Cordes.
Metro has targeted savings of EUR1.5bn by 2012, with its Metro Cash & Carry wholesale unit the focus of the cuts.
As part of the restructuring, Metro will also split its international wholesale operations into two units – one for Europe, Middle East and North Africa and one for Asia and new markets.
Almost a decade after the acronym BRICs entered the lexicon of international business, another phrase is starting to shape thinking on the developing world - CIVETS....
German retailer Metro Group is considering transferring hundreds of its accounting jobs offshore as part of moves to bundle roles in shared service centres....
Europe's food retailers are braced for a round of consolidation, analysts at J.P.Morgan Cazenove said this week. While the industry waits to see what deals could emerge, Metro Group and Auchan have fo...
Europe's food retail industry is set to see the return of mergers and acquisitions, analysts at J.P.Morgan Cazenove said today (12 October) as they started their coverage of the sector....
- It won't just be Unilever to push for Brexit hikes
- Price an underlying tension across European FMCG
- Danone's Q3 sales - what the analysts say
- Interview: UK trade body on Brexit's policy impact
- Interview: UK trade body on the impact of Brexit
- Nestle lowers outlook on "softer environment"
- PepsiCo sets 2025 nutrition, sustainability goals
- China "transition" drags on Danone Q3
- UK announces "action plan" to drive food exports
- CP Foods invests in UK foodservice firm Foodfellas
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Omega-3 in Food and Beverage:Time for a Reboot?
- Global Food Packaging: Innovating for Greater Convenience and Quality Image
- Packaged Food: Quarterly Statement Q3 2016
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review