Metro Q4 Sales Slide; Says Christmas Business Starts Off Well

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German department store operator Metro AG ( MTAGF.PK, MTTRY.PK) Monday reported a slight fall in fourth-quarter profit, but confirmed its outlook for adjusted Earnings Before Interest and Tax. Further, the company said its Christmas got off to a confident start.

Sales in the fourth quarter decreased to 15.1 billion euros ($19.3 billion) from 15.5 billion euros last year. Adjusted for the portfolio changes and exchange rate developments, sales rose 1.8 percent in the quarter. Like-for-like sales grew 0.7 percent, in comparison with a 0.3 percent slide last year.

In METRO Cash & Carry, sales were 7.6 billion euros, compared with 7.8 billion euros last year. According to the company, like-for-like sales rose for the fifth consecutive time. Media-Saturn generated sales of 4.9 billion euros, up from 4.8 billion euros in the same quarter last year. The division reported like-for-like sales growth of 1.8 percent.

Real sales fell to 1.9 billion euros from 2.3 billion euros, amid the disposal of Real in Eastern Europe. Sales were flat in Galeria Kaufhof at 0.7 billion euros. Reported sales were 63.0 billion euros in financial year 2013/14, compared to 65.7 billion euros last year.

Adjusted for portfolio and currency effects, the firm increased its sales by 1.3 percent. The company's like-for-like sales edged up 0.1 percent, compared with a 1.3 percent fall in the previous year.

On the basis of its performance, the retailer confirmed its outlook for Earnings Before Interest and Tax or EBIT before special items.

The company said that with Christmas approaching, it is well prepared and optimistically entered the current quarter.

The stock closed in Frankfurt on Friday at 23.99 euros.