BERLIN — Portfolio adjustments, foreign exchange effects and the shift in the Easter business dented Metro Group’s earnings performance in the second quarter.
For the three months ended March 31, the German cash & carry, department store, hypermarket and electronics retail group reported a net loss 271 million euros or $371.4 million, compared to a loss of 16 million euros, or 21.1 million for the period a year previously.
Dollar figures are converted from the euro at an average exchange rate for the period to which they refer.
Metro also booked operative losses in the quarter with EBIT, or earnings before interest and taxes, plunging to 233 million euros or $319.3 million, from 1 million euros, or $1.3 million in the same period last year.
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