Kaufhof improves comp-store sales in first quarter

Galeria Kaufhof, the big German department store chain, hit sales of €1.0 billion for the first quarter of the 2013-14 financial year. Sales were pretty much on a par with the same period last year, with a slight increase of 0.6 percent, but on a like-for-like basis where retail space is concerned, revenues were up 0.8 percent for the department stores in Germany and Belgium, as well as for its Sportarena specialty stores. The company says that sales could have risen more, if weather conditions had not hampered the sale of apparel. Kaufhof’s parent company, Metro, posted sales of €18.7 billion which corresponds to a 3.3 percent decline if calculated in Euro. On a comp-store basis, turnover remained stable. And excluding currency effects and effects of divestments, Metro’s sales were actually up by 1.1 percent.

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