tailer Metro AG said second-quarter sales fell by 3.6% to €15.3 billion, as it struggled with tough economic conditions in Europe, ongoing weakness at its cash & carry banner and a strike at its Real supermarket stores.Metro recorded total sales of €15.3 billion for the second quarter, compared to €15.8 billion for the same period a year earlier, which had received a boost from the UEFA Euro 2012 championship according to the retailer.
Metro's cash & carry division, the largest segment of Metro's business with around 45% of Group sales, saw its German sales fall by 5.1% during the quarter.
Earnings before interest, tax and special items (EBIT) was down 12% to €276 million.
According to the retailer, Metro Group 'succeeded in further strengthening its financial foundation in the first half of 2013 despite consumer sentiment remaining weak across Europe'.
"The disposable income and purchasing power of our customers in nearly all European countries were still burdened by austerity measures", Metro CEO Olaf Koch said.
"Nevertheless, we continued to significantly strengthen our balance sheet and achieved overall a positive business development. This is also one of the reasons why we remain convinced to fulfil our sales and earnings guidance for the stub year 2013," he added.
