REFILE-Metro sales recover in key market Germany despite forex hit
(Repeats to additional subscribers)
* Q3 sales 15.5 bln euros, meet Reuters consensus
* Confirms guidance for EBIT slightly above prior year's 706 mln euros
* Like-for-like sales up 1 pct in Germany
BERLIN, Oct 17 (Reuters) - German retailer Metro reported third-quarter sales fell 2.1 percent as it took a hit from volatile foreign exchange rates, but said it was cheered by sales growth in its home market and upbeat for the key Christmas period.
Europe's fourth-biggest listed retailer, which runs supermarkets, department stores and Europe's biggest consumer electronics chain, on Thursday reported third-quarter sales of 15.5 billion euros ($20.9 billion), meeting average analyst forecasts.
Metro Chief Executive Olaf Koch, who is trying to turn around a group hit hard by the downturn in the independent retail and hospitality industries, said improved sales, particularly in Germany, showed the firm was on the right track.
Retail sales in Europe's largest economy Germany, now waiting for a new government to be formed after an election victory by Chancellor Angela Merkel's party last month, rose in August for the first time in three months.
- White House reverses, says Obama met uncle and lived with him during law school
- U.S. television, Twitter, alive with new version of 'Sound of Music'
- South Africans, some fearful, wake to life without Mandela |
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- UPDATE 4-Hurricane-force winds wreak havoc in Britain, head to Europe