Metro reports sales increase of 3.6% for Q1

German retailer Metro reported group sales of adjusted for calendar and currency effects rose 3.6% for the first quarter ended 31 March. Eastern Europe (defined by Planet Retail as Central and Eastern Europe (CEE)) saw robust growth in local currency. The group generated net sales of EUR15.2 billion (USD19.8 billion) corresponding to a nominal decline of 2.5% due to several special effects such as calendar effects (e.g. the shift of the Easter business into the second quarter and one selling day less than in leap year 2008), the downward trend in inflation, especially in the food business and negative currency effects in Eastern Europe. Against the backdrop of these events, the nominal drop in sales during Q1 2009 has very little indicative value.

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