Preliminary Metro Group sales in Q1 2014/15, adjusted for currency effects and portfolio changes, grew by 2.6% compared to the previous year quarter. Like-for-like sales increased by 2.1%.
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Reported sales declined by 2.2% to €18.3 billion mainly due to the disposal of Real Eastern Europe and the substantial negative currency effects in many parts of Eastern Europe, but particularly in Russia and Ukraine. However, like-for-like sales increased by 2.1%.
"Despite the persistently challenging environment we were able to continue the positive like-for-like sales performance at the start of the new financial year," said Olaf Koch, Chairman of the Management Board of METRO AG.
"Christmas business was overall positive. In December, all sales divisions increased their like-for-like sales. This positive development means that we have created a solid basis for further success in our transformation and achieving our full-year sales outlook."
Metro Group also successfully continued its transformation process at the start of financial year 2014/15 and expanded its share of sales in the multichannel and the delivery business, amongst others.
In Q1 2014/15, Metro Group opened a total of 23 new stores across 7 countries, of which 9 were METRO Cash & Carry, 13 Media-Saturn and one Galeria Kaufhof department store. 14 new store openings took place in the important expansion countries Russia and China.
The 5 METRO Cash & Carry stores in Denmark were closed at the end of 2014, as announced. In addition there was one METRO Cash & Carry store closure each in Rumania and Bulgaria. As announced, Real closed 5 stores and Galeria Kaufhof 2 department stores. ■
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