German retailer metro reports sluggish growth rate

German retailer company Metro reported slow sales growth in the final quarter of its 2016/17 fiscal year as like for like growth stalled in its wholesale stores in Germany and also slowed in its real hypermarkets.

According to Thomson Reuters SmartEstimates, Fourth-quarter sales rose 0.7 percent to 9.2 billion euros ($10.86 billion), below average analyst forecasts for 9.3 billion euros. Same store sales rose 0.5 percent, compared to 2.6 percent the previous quarter.

Metro which runs wholesale stores in 35 countries as well as Real hypermarkets in Germany, split from consumer electronics group Ceconomy in July.