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A tale of two German retailers

Published on 09/01/2004

 9 January 2004

ESSEN/DUESSELDORF – Retail concerns Metro and KarstadtQuelle reported Friday divergent business performance in the fourth quarter of 2003, with Metro posting gains and KarstadtQuelle saying sales dropped.

KarstadtQuelle, in Essen, said fourth-quarter turnover dropped 6.8 percent year-on-year in the fourth quarter to EUR 4.5 billion.

The company, best known for its chain of department stores, said that for the full-year, turnover was down 3.5 percent to EUR 15.3 billion.

Metro, in Duesseldorf, said its fourth-quarter revenues were up 3.6 percent in the fourth quarter. For the full year, group turnover was 4 percent higher at EUR 53.6 billion.

Subject: German news