Management believes that the values are within the norm
Chain stores Metro Group has published a report for the last quarter of 2013. The results of the three months in the company's sales declined. Poor sales during the Christmas holidays and currency fluctuations affected the falling profit of organization. A fourth-largest retail chain in the world reported that from October to December 2013 sales fell by 3.3% to € 18,7 billion, KamCity reports.
Hypermarket continues to struggle with falling sales. Metro feels pressure from German companies that sell products with very big discounts. Also, the company's profits are falling because of food deflation.
Despite the decline in profits, CEO of chain, Olaf Koch said that management is pleased with performance. He noted that the values are within the forecast. In addition, the online shopping increased its volume by 40%. Metro plans to develop this area further.
The greatest demand for retail chain is observed in Eastern Europe (including Russia, Turkey and Poland) as well as in Asia.
