German Retailer Metro Faces Massive Losses in CEE
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Sales in CEE declined 14.8 percent last year for German retail and wholesale enterprise Metro Group.
Retailer Metro saw sharp declines in some CEE countries. / Picture: © Vindobona.org
In the first half of the fiscal year 2013/2014 sales came at around € 7.8bn, which is a drop of almost 15 percent. The sharp decline is considered the consequence of the closing of its so-called “Real” stores in some countries of the CEE region. Stores of the Real division were closed in Russia, Ukraine, Romania and Poland. By this, Real’s sales declined almost 72 percent to €…
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