date:May 09, 2014
German retailer Metro AG cut its outlook for its consumer electronics division on Thursday after a disappointing first quarter as the unit struggled with competition from online rivals and a leadership crisis.
The chief executive of Media-Saturn, Europe's largest consumer electronics chain which accounts for about a third of Metro's sales, quit on Tuesday amid a dispute between the firm's founder, Eric Kellerhals, and majority shareholder Metro.
Metro reported Media-Saturn sales fell 4 percent