Reuters: Bankruptcy News: Metro AG Q2 sales fall 3.6 pct on Europe weakness

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Metro AG Q2 sales fall 3.6 pct on Europe weakness Aug 1st 2013, 05:35 FRANKFURT | Thu Aug 1, 2013 1:35am EDT FRANKFURT Aug 1 (Reuters) - Germany's Metro AG said second-quarter sales fell 3.6 percent as it grappled with tough European markets and a strike at its Real supermarket stores. The group, which runs cash and carries, consumer electronic stores, supermarkets and department stores, reported sales of 15.3 billion euros ($20.3 billion) and earnings before interest, tax and special items (EBIT) down 12 percent to 276 million. Analysts had expected sales of 15.26 billion euros and EBIT before special items of 269 million, according to a Reuters poll. Metro also said income from the closing of a sale in Russia had been enough to offset provisions made in connection with the insolvency of its former subsidiary Praktiker. Metro is the landlord to 40 Praktiker stores in Germany.

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