Metro Posts Drop In Q1 Sales

Metro AG(OTC: MTTRY) reported a drop in its sales in the last three months of 2014.

Metro's sales in the first quarter declined 2.2% to 18.3 billion euros ($21.65 billion) from 18.7 billion euros, versus analysts' expectations for a 2.8% drop.

Like-for-like sales gained 2.1%. Excluding currency effects and portfolio changes, preliminary sales for the quarter climbed 2.6%.

Same-store sales at Metro's consumer electronics business Media-Saturn rose 3.8%, while sales jumped 4.1% to 6.9 billion euros. Like-for-like sales at the cash-and-carry business gained 1.4%, while sales dropped 3.6% to 8.2 billion euros.

Metro shares gained 2.19% to close at $6.07 yesterday.