Metro Cust Profit Forecast as Europe Slowdown Hurts Sales
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Metro AG, Germany’s biggest retailer, cut its 2012 profit forecast, saying Europe’s sovereign-debt crisis is weighing on sales in the south and east of the region.
Earnings before interest and taxes will decline to about 2 billion euros ($2.6 billion) in 2012, the Dusseldorf-based retailer said in a statement today. It had previously forecast earnings would be about the same as 2011’s 2.37 billion euros. The shares fell the most in about 10 months.