Germany-based retailer Metro has reported that group sales jumped 5.9 per cent to €68bn during financial year 2008, although growth slowed during the fourth quarter, rising 3 per cent as the global economic crisis took hold.
'2008 was a challenging year for the retailing industry. In the courseof Q4 2008, the economic environment drastically deteriorated further,'said group CEO Eckhard Cordes. 'Also, the momentum of Metro Group'sbusiness development, especially outside of Germany, slowed. However,Christmas trading in Germany all-in-all progressed satisfactorily.'
Sales in Germany for the year-long period ended 31 December 2008 increased 2 per cent compared with the previous year, up to €26.7bn.
International sales growth for the year stood at 8.5 per cent, to €41.3bn, with international share of group sales reaching a record 61 per cent. Western European sales (excluding Germany) rose 2.2 per cent to €21bn, while eastern European sales jumped 15.3 per cent to €18.1bn. In Asia/Africa, total sales increased 19.3 per cent to over €2.2bn.
Metro opened 124 new stores during the course of the year, of which 40 were Metro Cash & Carry outlets and 14 were Real hypermarkets, taking the group's total portfolio to 2,195 stores in 32 countries.
'2009 will be a very difficult year. Customers will think twice about where and for what they spend their money,' Mr Cordes added.
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