Metro AG

Metro AG
Aktiengesellschaft
Traded as FWB: MEO
Industry Retailing
Founded 1964; Metro AG formed in 1996AD
Headquarters Düsseldorf, Germany
Area served
 Europe, Asia, Africa
Key people
Products Cash & Carry/warehouse club, department store, electronics specialty, hypermarket/supercenter/superstore, other specialty
Revenue Decrease €58.417 billion (2015/16)[1]
Increase €1.560 billion (2015/16)[1]
Decrease €599 million (2015/16)[1]
Total assets Decrease €24.952 billion (2015/16)[1]
Total equity Increase €5.332 billion (2015/16)[1]
Number of employees
 219,678 (2015/16)[1]
Divisions
Website metrogroup.de
Head office

Metro AG, otherwise known as Metro Group, is a German global diversified retail and wholesale/cash and carry group based in Düsseldorf.[2] It was established in 1964 by Ernst Schmidt and Wilhelm Schmidt-Ruthenbeck. As of 2010, it was the fourth-largest retailer in the world measured by revenues (after Wal-Mart, Carrefour and Tesco).[3]

History

In June 2009, it was reported that the company was looking to purchase some of the assets of Arcandor, after the firm filed for bankruptcy. They split off and floated their Praktiker division in December 2006, a DIY/home improvement chain with stores in several countries.

In 2012, the company threatened Microsoft with legal action for infringing on "Metro" trademarks held by Metro AG. "Metro" had been the name of Microsoft's new "Windows 8-style" user interface.[4]

On June 15, 2015, Metro AG agreed to sell Galeria Kaufhof to Canadian retail conglomerate Hudson's Bay Company for $3.2 billion.[5]

Sales divisions

The company operates the following sales divisions:

  • Metro and Makro Cash and Carry (Makro stores in the United Kingdom and elsewhere in Europe were acquired from SHV Holdings in 1998): This division accounts for nearly half of group sales as of 2004, and is by far the most internationalised division, with stores in almost every country in which the group operates.
  • Real: A hypermarket operator. 265 stores in Germany and 34 elsewhere as of early 2005.

Division of the company

On March 30, 2016, Metro Group announced that it will be splitting into two independent companies:[6]

  • Wholesale and food, comprising Metro, Makro and Real, as well as a corresponding division and service companies.
  • Consumer electronics products and services, comprising Media Markt and Saturn and its portfolio including strong formats and brands.

A spin-off of the wholesale and food sector of current Metro AG will be responsible for the group’s division into two independent and publicly listed companies. Both will have their own Management, Supervisory Board and independent company profiles.

See also

References

  1. 1 2 3 4 5 6 "Annual Report 2015/16". Metro AG. Retrieved 14 December 2016.
  2. ↑ "Contact & Directions". Metro AG. Retrieved 15 June 2014. Metro-Straße 1, 40235 Düsseldorf
  3. ↑ Switching Channels: Global Powers of Retailing 2012 (Report). Delotte. January 2012. p. G11. Archived from the original on 26 June 2015. Retrieved 15 June 2015.
  4. ↑ Bright, Peter (2 August 2012). "Sources claim that German retailer Metro AG is unhappy with Redmond". Ars Technica.
  5. ↑ "Canada's Hudson's Bay Company and Metro Group Reach Agreement over Sale of Galeria Kaufhof". hbc.com.
  6. ↑ "Metro Group prepares demerger into two independent, strong wholesale and retail groups". metrogroup.de/en.

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