GERMANY: Metro reports rise in Q3 profit, sales
German retail giant Metro has posted a 14% rise in third-quarter net income, despite clothing sales being hit by the hot summer weather in Europe.
Metro reported net profit of €59.3m (US$68.0m) for the third quarter, compared with €51.9m a year earlier, reported Dow Jones News. EBIT rose 12.4% to €211.3m.
Sales edged up to €12.8bn from €12.36bn. Foreign sales accounted for 48.4% of sales in the quarter, compared with 46.8% in the year-ago period, reflecting the group's internationalisation efforts.
Metro said it had extended its sales network to 2,339 outlets worldwide at the end of the third quarter, during which it opened 23 new stores. The company operated in 27 countries at the end of the quarter.
Companies: Metro Group
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