German retail giant Metro has said group sales were up 4.9% in the third quarter, boosted by continuing double-digit sales growth outside Germany.
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The company said that sales were €14.06bn (US$16.89bn) in the third quarter of fiscal 2005. Outside Germany, sales went up 11.4%. The share of international sales continued to rise, to 53.1% in the third quarter.
“In Germany by contrast, the market climate is influenced by ongoing uncertainty. With the election’s outcome, the generally expected improvement in consumer sentiment failed to materialise. The discussions about imminent amendments to the social security systems as well as potential tax rate increases have contributed to additional uneasiness of the consumers,” Metro said.
Furthermore, the development of the company’s Real hypermarkets business remained behind expectations.
“We are not satisfied with the performance of Real. The measures introduced some months ago so far have not led to an improvement of its business in Germany. We continue to push forward with the repositioning of this sales division,” said Dr. Hans-Joachim Körber, CEO.
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By GlobalDataAt the end of the third quarter 2005, Metro had 2,463 outlets in a total of 30 countries.
