German retail group Metro is considering an exist from the Japanese market, amidst a sluggish financial start to 2013, according to media reports.
German trade and business newspaper Lebensmittel Zeitung claims Metro could withdraw from Japan, Bulgaria, Egypt and Kazakhstan in coming months to free up capital for the reorganisation of the company in its home market.
The retailer’s international sales fell by 2.2 per cent to €9.4bn in the first quarter of 2013, while German sales rose marginally by 1 per cent.
Overall, Metro Group generated €15.5bn in sales between January and March 2013, down on the sales total of €15.6bn over the corresponding time period in 2012.
Sales from the group’s cash and carry business fell by 2.8 per cent.
Metro is also looking to invest in its e-Commerce operations and continues to grow its Chinese operations, with 13 new stores to be built in the Asian nation this year.
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