Metro to Pay EUR450 Million in Goodwill Impairments
April 24 2015 - 5:50AM
Dow Jones News
By Monica Houston-Waesch
FRANKFURT--German retailer Metro AG (MEO.XE) Friday warned
investors of a goodwill impairments amounting to 450 million euros
($483.6 million) this year, but said this won't cause a revision
its outlook for profit before one-offs.
The goodwill adjustment will reposition the retailer group's
Real hypermarket chain and relates to the acquisition of companies
for the unit 17 years ago.
Metro is still projecting group earnings before interest, tax
and special items to be slightly above the EUR1.73 billion posted
in the fiscal year to Sept. 30, 2014.
Metro said it will continue to invest in modernization, store
infrastructure and merchandise presentation at its Real
hypermarkets, adding that 82 of more than 300 stores have been
modernized.
Write to Monica Houston-Waesch at nikki.houston@wsj.com
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