Metro, World number four supermarkets, says to expect a further decline in sales in the coming months, after publishing a quarterly recurring profit above expectations.
"Clear signs of a swift economic recovery after a serious crash are currently no perceptible (...) We expect retail sales to fall further Over the coming months, "said the German group.
" We think the trends in sales and results will not change significantly in the second half of 2009. "
The retailer reported a decline 6.1% of its earnings before interest and taxes (EBIT) before special items in the second quarter to 307 million euros, while analysts polled by Reuters had forecast a profit of 297 million.
Its turnover business fell 3.8% to 15.3 billion euros, down from projections of analysts.
sector large retailers have felt the full brunt of the economic crisis that has led households to reduce spending in the face of rising unemployment and uncertainty about economic developments.
Carrefour, the number one retailer in Europe, launched in June a third warning on its results in 12 months.
sign of continuing difficulties in the sector, retail sales in Germany fell 1.8% in June from the previous month, according to official statistics released Monday, while economists polled by Reuters expected a rise.
Metro is also more exposed than others to East European markets and has suffered from the decline of certain currencies against the euro in particular in Poland and Russia.
In January, the group launched a restructuring program called Shape 2012 which provides for 15,000 job cuts and set himself the goal to bring profits to 1.5 billion euros by 2012 to keep its target medium-term growth of over 8% per year adjusted operating profit.
Eva Kühnen, French and Marc Angrand Gwénaëlle Barzic / Point
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