Metro sales beat European woes

German retailer Metro managed a slight rise in sales in the quarter despite tough conditions in Europe. The world’s fourth-largest retailer saw a two per cent rise in turnover to €15.8bn (£12.4bn), better than forecasts. The results relieved investors although Metro made a net loss of €20m for the quarter. This was far less painful than the firm’s losses in the first quarter of the year thanks to an aggressive cost-cutting operation.