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15th February 2021 Metro AG saw a significant fall in revenues over its last quarter due to the recent tightening of trading restrictions in the hospitality sector across several countries in Europe. However, the impact was not as bad compared to lockdowns at the start of the pandemic and the wholesale giant remained upbeat on its future prospects. Total sales in the first quarter of its new financial year were down 11.2% to €6.3bn. This compares to a slump of 17.4% in its third-quarter period last year during the height of the crisis. In Germany, Metro’s like-for-like sales only declined by 4.5% after positive development of its Service Companies and Offices (SCO) business helped offset the decline in its HoReCa unit.

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