BERLIN — Currency effects and portfolio changes lightly pressured Q4 and full-year sales at Metro Group, according to preliminary sales figures released Monday.
For the quarter ended Sept. 30, Germany’s Cash & Carry electronics and supermarket group reported sales slipped 1.1 percent to 14.2 billion euros, or $15.8 billion.
All dollar figures are converted at average exchange for the periods to which they refer.
Like-for-like sales for the quarter rose 1.3 percent.
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Reported and like-for-like figures for both the quarter and the fiscal year no longer include the Galeria Kaufhof chain. As reported, HBC bought the 135-door chain in June for 2.825 billion euros. The transaction was fully completed in September, bringing Metro a net cash payment of 1.75 billion euros, which was above the original forecast.
Sales for fiscal 2014-15, ended Sept. 30, were down 1.2 percent to 59.2 billion euros, or $68.02 billion. Adjusted for currency effects, sales slipped 1.1 percent. On the other hand, like-for-like sales for the group were up 1.5 percent, meeting the group’s like-for-like sales target for the year.
Metro confirmed its earnings before interest and taxes guidance, which calls for EBIT before special items coming in slightly ahead of fiscal 2013-14’s level of 1.73 billion euros, or $2.34 billion.
The group said it expects a positive Christmas business, and that it has started the first quarter of fiscal 2015-16 with a positive outlook. The divestment of Galeria Kaufhof was an important step in optimizing its portfolio, Metro said, adding that proceeds from the sale provide the means to make further acquisitions such as Q4’s purchase of food service distribution company Classic Fine Foods, and electronics services provider RTS.
Metro did not disclose earnings figures at this time. Final 2014-15 figures will be published on Dec. 15.
