💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Metro will correct Russia situation soon: CEO

Published 06/04/2018, 03:58 AM
Updated 06/04/2018, 04:00 AM
© Reuters. German retailer Metro AG CEO Koch attends the press conference at the company´s headquarters in Duesseldorf
B4B
-

FRANKFURT (Reuters) - The chief executive of Metro (DE:B4B) is hopeful that the German retailer will turn around its struggling Russian business soon, he said on Monday.

"I am very optimistic we will correct that situation in the near future," Olaf Koch told an event in Berlin to promote Metro's cooperation with start-ups, describing the problems in Russia as "a bit of a hiccup".

© Reuters. German retailer Metro AG CEO Koch attends the press conference at the company´s headquarters in Duesseldorf

Metro said last month it hopes to stabilize its shrinking Russian business in the coming months after overhauling management and introducing bulk discounts to attract more independent traders and restaurant owners.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.