There is no doubt that the Christmas trade started slow with low sales of textiles and food. However, it seems like the Metro AG, which is the fourth biggest retailer of the entire Europe, said that they are now finally picking up this month of December 2014. The slow start of food and textiles sales was blamed in the unusual mild weather.
Due to the impact of Metro AG’s Russian business, Metro AG was hit by brand new concerns regarding the ruble in Tuesday even with its overnight interest rate increase.
Metro AG was able to recover fast on its operating profit. It is all thanks to the instant recovery of its consumer electronic business. The company should be doing worse than ever by now as it had experienced stock fall by 31 percent this year because of its exposure to the Russian roble. However, the company was saved by its currently booming consumer electronic business.
The company still managed to report a positive operating profit before their special items fell down by four percent to $520.8 million or 418 million euros in the fourth and final quarter of the 2013-2014 fiscal year. It beats the 369 million average analyst forecast.
