Finance Info-Retail Giant Germany, Metro reduced its first quarter net loss to 16 million euros (USD21 million), from 80 million in the same period a year earlier.
Reported by Expactica, from Thursday (2/5/2013), earnings before interest and tax (EBIT) up one million euros in the first three months of this year, compared with a loss of eight million euros a year earlier.
Rival Wal-Mart, Carrefour and Tesco said sales were down slightly, 0.9 percent to 15.5 billion euros.
"In many countries, the purchasing power of our customers have been affected by the economic crisis and Government austerity measures," said Metro Chief Executive Olaf Koch.
"However, we managed to increase revenues and sustain sales at a steady rate from year to year," he added.
Metro Group hope regardless of business conditions that continue to be difficult, can produce moderate growth in sales.
Finance; Investment; Business; Economics
Finance; Investment; Business; Economics
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