Unexpectedly, the German giant Metro distribution third largest in Europe to escape the crisis of late 2008 despite a decrease in sales in its core market: Germany. Despite the contraction in sales, Metro completed announcing fiscal 2008 sales and earnings records. The retail group has managed to navigate through the turmoil of the crisis and reach a turnover of nearly 70 billion euros and operating profit up 7%. However, the effects of the crisis are still being felt in its net profit fell by 51% compared to fiscal 2007.
2009: A bad year
During fiscal 2008, the German giant to create some 15,000 jobs worldwide is a increase of almost 5.6% for 290,940 employees in late 2008. The restructuring plan submitted by the Board plans to reverse the trend with the elimination of 15,000 jobs! it seems that the German group wants to go down its workforce in 2007 to pass safely the crisis while being strong enough to qualify for a possible takeover.
Metro like the other giants of the supermarket seems to have no visibility into the future and can not move today targets a year, the economic crisis to prevent any long-term strategy in an industry whose growth can leave at breakneck speed. The group should be able to say more about its targets by the end of the first quarter will be determined for most of the businesses.
The group also presented its Chinese ambitions, with the establishment of stores Media Markt and Saturn. This location could allow him to provide money receipts on a growing market.
It seems that the visibility of the retail giant is reduced in fiscal 2009 and growth forecasts are not optimistic.
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