Home / Knowledge / News / Apparel/Garments / METRO GROUP Q1 sales at prior-year level despite late Easter
METRO GROUP Q1 sales at prior-year level despite late Easter
May '11
METRO GROUP significantly raised its earnings during the first quarter 2011. Operating earnings (EBIT) before special items climbed by 6.6% to € 145 million. With around € 15.5 billion, sales came in at the prior-year level - despite the complete shift of the Easter business into the second quarter.

"We again strengthened our earnings performance", said Dr Eckhard Cordes, Chairman of the Management Board of METRO AG. "This was achieved despite the late Easter business and thus also attests to our stronger earning power. With a view to the first four months of the year we have again already outperformed the year-earlier sales. This tells us: we continue on a profitable growth course".

During the first quarter 2011, METRO GROUP generated sales of € 15.5 billion (Q1 2010: € 15.5 billion). The first quarter was strongly influenced by the shift of the important Easter business. While last year's first quarter benefitted from an early Easter season, the Easter business in 2011 completely shifted into the second quarter.

Especially the sales trend in Germany was affected by the late Easter. First quarter sales receded by 2.6% to € 6.0 billion. Adjusted for store disposals, however, sales only gave in by 1.3%. International sales generated during the first quarter rose by 1.7% to € 9.5 billion. Here, too, the shift of the Easter business could be felt in the sales trend in Western and Eastern Europe. The international share of sales rose from 60.1% to 61.1%. In Western Europe, sales dropped by 1.9% to € 4.8 billion. Sales in Eastern Europe grew by 2.5% to € 3.8 billion. In the region Asia/Africa, sales again climbed significantly by 22.5% to € 0.9 billion.

During the first quarter 2011, EBIT before special items rose appreciably by 6.6% to € 145 million (Q1 2010: € 136 million). This rise is attributable to cost savings and also to productivity gains in the framework of Shape 2012. After accounting for special items, EBIT rose by € 25 million to € 142 million € (Q1 2010: € 117 million).

Adjusted for special items, earnings before taxes came in at € 25 million (Q1 2010: € 23 million). Including special items, earnings before taxes rose to € 22 million (Q1 2010: € 4 million).

Sales of Galeria Kaufhof receded by 4.7% to € 0.8 billion during the first quarter 2011. Like-for-like, sales dropped by 3.9%. In Germany, sales slumped by 5.8% to € 0.7 billion mainly owing to the Easter shift. Like-for-like, sales came in 4.8% lower. In March, the Galeria Kaufhof subsidiary Sportarena launched two pilot outlets of its new store concept Wanderzeit. On a sales floor of around 500 square meters, customers are offered an attractive range of equipment and clothing around the topic of hiking. In Western Europe, sales improved by 4.8% to € 0.1 billion. Here, business benefitted from a positive development of textiles sales. Like-for-like, sales climbed by 4.4%.

Due to the shift of the Easter business, EBIT dropped to € -27 million during the first quarter 2011.

METRO GROUP is one of the largest and most international retailing companies. In 2010 the Group reached sales of around € 67 billion. The company has a headcount of some 290,000 employees and operates more than 2,100 stores in 33 countries.


Must ReadView All

Courtesy: BGMEA

Apparel/Garments | On 27th Feb 2017

'Brands & buyers should help Bangladeshi factory owners'

Brands and buyers should come forward to help factory owners in...

Apparel/Garments | On 27th Feb 2017

Myanmar sets up new committee to revise minimum wage

The Government of Myanmar has set up a new committee, replacing an...

Courtesy: PT Indonesia Taroko Textile

Textiles | On 27th Feb 2017

Taiwan's Lealea to buy Tarako textile plant in Indonesia

Taiwan based textile manufacturer Lealea Enterprise Company, one of...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Rahul Bhadani

Navigating through catalogues is a bit hasslesome

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search