German retail giant Metro is reportedly planning to sell 100 of its unprofitable Extra supermarket outlets.
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However, the company does not intend to sell all of its 440 Extra supermarkets, Reuters reported, citing sources. A Metro spokesman declined to comment.
In the third quarter of 2004 Metro’s Extra supermarket unit reported a loss of €23.1m (US$29.9m) before interest, tax and amortisation, and sales down 10% to €597.8m. Extra operates in Germany, where retailers have been hit by lower food prices and weak consumer retail spending.
