October 19, 2016 / 5:45 AM / 9 months ago

Metro Media-Saturn hurt by sales dip at online site Redcoon

1 Min Read

BERLIN, Oct 19 (Reuters) - German retailer Metro saw a fall in fiscal fourth-quarter sales at its Media-Saturn consumer electronics unit due to a decline at online site Redcoon and a reversal after the European soccer championship had boosted sales of televisions.

Metro reported group sales dipped 0.5 percent to 14.2 billion euros ($15.59 billion), at the low end of analyst forecasts which averaged 14.29 billion.

It said like-for-like sales rose 0.1 percent, supported by increases at its cash and carry and Real hypermarkets businesses, which it plans to separate from its consumer electronics chain and list next year.

However, like-for-like sales fell 2 percent at Media-Saturn, as turnover sagged after the European soccer championship and due to a decision to end the unprofitable wholesale business of its online site Redcoon. (Reporting by Emma Thomasson; Editing by Tina Bellon)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below