date:May 12, 2014
Germany's Metro Group announced a 7.6% drop in turnover in the first quarter of their fiscal calendar because of competition from online rivals and a late Easter period. Sales for the period came in at 14.3 billion.
The retailer's net loss widened to 269 million, from a loss of 16 million a year earlier, which the company says is down to charges relating to the sale of Hypermarket chain Real Eastern Europe. The company recordeda loss before interest, taxes and one-offs of 40 million, compared