BERLIN, Jan 13 (Reuters) – Metro AG, Europe’s
fourth-biggest retailer, saw a recovery gain pace at three of
its four businesses in the important Christmas quarter, with
growth in consumer electronics the strongest since 2006,
boosting its shares.
The German company, which runs 2,200 stores in 30 countries,
has been slimming down its portfolio and cutting costs to focus
on its wholesale and consumer electronics businesses, sprucing
up stores and improving its online offering.
LONDON/BERLIN (Reuters) – Tesco’s (TSCO.L: Quote, Profile, Research, Stock Buzz) announcement on Thursday that it will close 43 stores and cancel another 49 developments is just the start of a review of a huge property portfolio that is out of tune with modern shopping habits.
The world’s biggest retailers are all struggling to adapt as time-pressed customers buy more groceries locally or online rather than shopping in the out-of-town megastores that flourished in previous decades.