Metro Group’s shares were up this morning (31 July) despite the German retail giant booking a net loss in the second quarter.

The retailer’s shares climbed 2.9% to EUR22.38 despite the firm posting a loss attributable to shareholders of EUR20m (US$24.6m) compared to a profit of EUR40m last year.

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EBIT for the quarter plummeted to EUR70m from EUR267m in the prior-year period. However, the market was cheered by Metro’s adjusted EBIT beating expectations.

Quarterly sales climbed 1.8% to EUR15.85bn, meeting expectations.

Click here for coverage of Metro’s conference call with analysts.

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