Metro Expects German Retail Sales To Improve
DUESSELDORF - Metro AG, Germany's largest retailer, said today it expects to meet its sales and earnings forecasts this year as Germans increasingly accept their new currency and hit the shops, Dow Jones news reports.
At the company's annual shareholders meeting, Chairman Hans-Joachim Koerber said that he expects sales this year to rise 6 percent to more than EUR52 billion, and for earnings per share to rise 10 percent. In 2001, earnings per share were EUR1.23.
Metro owns and operates more than 2,200 wholesale stores, supermarkets, hypermarkets, department stores, and specialty retailers (home improvement, consumer electronics), mainly in Germany and the rest of Europe. Wal-Mart is now one of its main competitors in Germany with 95 stores.
At the company's annual shareholders meeting, Chairman Hans-Joachim Koerber said that he expects sales this year to rise 6 percent to more than EUR52 billion, and for earnings per share to rise 10 percent. In 2001, earnings per share were EUR1.23.
Metro owns and operates more than 2,200 wholesale stores, supermarkets, hypermarkets, department stores, and specialty retailers (home improvement, consumer electronics), mainly in Germany and the rest of Europe. Wal-Mart is now one of its main competitors in Germany with 95 stores.