Avatar

Retailers like the pandemic. METRO sales exceed



Reading time:<1 minute

Metro grew sharply in the first three months of the new fiscal year 2021-2022, with sales exceeding pre-Covid levels.

Between October and December, the German group’s revenues increased by up to 20%, reaching 7.6 billion euros, so the company exceeded its pre-Covid levels. The retail business grew 13% to 6.2 billion euros, while the delivery division accounted for 1.4 billion euros (+ 64%), according to Retail.Detail.

Gross operating profit rose one-third to 528 million euros, while net profit nearly doubled to 195 million euros. Metro attributes this mainly to the revival of the hospitality industry in countries such as Germany, France, Italy and Spain.

“These two years of pandemics have shown that consumption outside the home is unwavering and that the hospitality industry is creative, resilient and strong,” said CEO Steffen Greubel. “The industry will continue to face challenges for a while. With our stores, food distribution, online marketplace and digital tools, we will maximize our ability to empower our customers to meet the challenges they face. This will allow us to continue to grow with them. “

In fact, Metro has not only had solid results in Western Europe. In Russia, sales rose by almost 18%, partly helped by favorable exchange rates. Also in the eastern segment – with countries such as the Czech Republic, Poland and Turkey – revenues increased by almost 15%.