All Metro Group articles – Page 3
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News
Metro Group sees first signs of a recovery in Eastern European markets
Metro Group has said it is seeing the first signs of a recovery in its Eastern European markets. However, chief executive Eckhard Cordes also warned of tough times ahead in the retailer’s home market of Germany.He said the crisis was not over yet and pointed out that Europe’s largest economy ...
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NewsConsumer loyalty to own-brand products here to stay
The growth in sales of retailers’ own-brand products is likely to slow although the shift in loyalty away from branded lines is permanent, according to retail consultancy Verdict Research.
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News
Media-Saturn to enter Siberia
Metro Group-owned consumer electronics retailer Media-Saturn, which has been operating in Russia since late 2006, will enter Siberia in the fourth quarter of this year.The retailer runs 15 Media Markt electronics superstores in Russia. At present, Metro Group operates only cash and carry stores in Siberia.
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News
Metro's EBIT plummets
Metro’s EBIT plummeted 20 per cent to €307bn (£260.99bn) in the second quarter due to costs associated with its efforts to restructure the business.Sales for the period dropped 3.8 per cent to €15.3bn (£13.1bn) because of currency fluctuations in Eastern Europe.Over the first half, group sales slid 3.2 per cent ...
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Metro considers alternatives to merger
Metro is considering alternatives to formally merging its Kaufhof department store chain with Karstadt, the department store retailer owned by insolvent group Arcandor.Metro is examining the possibility of renting selected properties directly from owners once Karstadt goes into bankruptcy. A Metro spokesman said the retailer was interested in acquiring the ...
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Metro unveils turnaround programme
Metro has unveiled a turnaround programme for its flagging Cash & Carry wholesale business. The turnaround programme is based on three core targets of growth, restructuring and innovation.Metro Cash & Carry said the programme will improve its earnings development and open up additional sales potential. The grocer’s growth strategy includes ...
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News
Metro Cash & Carry unveils turnaround plan
Metro Cash & Carry Germany has unveiled its turnaround programme, designed to turn around the flagging wholesaler.
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Promotion planned for Metro chief financial officer
Metro plans to promote its chief financial officer Thomas Unger to the role of deputy chief executive early next year, according to local reports.Unger will be tasked with overseeing Metro’s restructuring programme “Shape 2012”, which will result in 15,000 job losses and aims to increase profits by €1.5bn (£1.3bn).He will ...
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News
Media Markt plans more stores in Turkey
Media Markt, the consumer electronics group owned by German retailer Metro Group, plans to open a further seven stores in Turkey by the end of this year.The move is part of Media Markt’s strategy to become the leader in the Turkish market by 2010. The retailer has opened nine stores ...
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Future of Arcandor remains unclear
The future of Karstadt owner Arcandor remains unclear after rival group Metro proposed that it acquire and merge Karstadt’s stores with its own Kaufhof fascia.But Arcandor chief executive Karl-Gerhard Eick remains confident of a state-backed solution after lobbying for a €650m (£564m) loan. Arcandor argues that Metro’s idea could cost ...
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Metro seeks government intervention for rival's state support request
Metro has called on the German government to reject a request by its rival Arcandor for state support as it seeks to acquire the latter’s department store chain, Karstadt.Metro chief executive Eckhard Cordes wrote to the government outlining a “commercial solution” that would not need state intervention. Cordes has denied ...
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News
Pre-tax profits at Metro plummet
Pre-tax profits at grocer Metro plummeted almost 50 per cent in its first quarter to e84m (£74.8m). Sales also fell 2.5 per cent to e15.2bn (£13.5bn) in the three months to the end of March.
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NewsMetro profits halve in first quarter
First quarter operating profits at German grocer Metro have halved due to currency devaluations.
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News
Metro results top expectations
German retail giant Metro has posted better-than-expected results for the six months to June 30.
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News
Metro to axe raft of German Real stores to ramp up profit
German retail group Metro is to close or sell 27 of its underperforming Real hypermarkets in Germany by the end of next year to lift profitability.
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News
Metro relocates test site for Future Store
Metro has unveiled the latest testing ground for its Future Store Initiative at a Real hypermarket in Toenisvorst, Germany.
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News
Real boss to unveil revival strategy for flagging chain
The new boss of Metro Group’s Real hypermarket chain was expected to reveal his blueprint for the revival of the hypermarket chain to suppliers this week.
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Russian plans for Media Markt
Metro is considering taking its Media Markt electricals chain to Russia, and views the country as one of its five biggest priorities over the next few years.
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News
Microsoft teams up with Metro to work on Future Store project
This Year’s NRF conference in New York saw a raft of announcements from technology suppliers. Much of the news centred around providing support for RFID projects; further evidence, if any were needed, that this is the hot technology of 2004.
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