Metro Cash & Carry, Romania’s largest retailer, last year posted sales that exceeded forecasts. After having originally estimated sales worth 700 million euros early last year, Metro officials eventually found the results had actually amounted to 760 million euros in 2003.
“The year 2003 ended with turnover worth 762 million euros, which means we exceeded our target by some 8.8%,” said Delia Nica, PR manager with Metro Cash & Carry Romania SRL. The Metro official would not reveal the profit posted by the company last year.
In 2002, Metro Cash & Carry Romania saw more than 21,300 billion ROL in turnover (almost 683m euros according to the average exchange rate calculated by the National Bank of Romania) and net profit exceeding 95bn ROL (3 million euros). At the end of 2002, Metro had 15 stores, but their number climbed to 19 in 2002, as the retailer opened another four units last fall.
Metro is among Romania’s largest companies in terms of turnover and its expansion strategy targets a number of 20 cash & carry stores in the large and medium cities. According to market information, after the expansion stage is completed, the company may go for opening smaller stores in several towns, where big-size Metro units (which spread on 6.500-10,000 square metres) are not really an option.
“In the first stage this year, we will continue to consolidate our market position, and then, depending on the economic trends and the reaction of our competitors, we will decide whether we should push expansion further,” Nica added.
Turnover is envisioned to reach 800 million euros this year, with the company set to invest heavily in personnel training. Metro currently employs more than 5,100 people.
“We will continue with the “University Project” this year, as it has been very successful. The project sees Metro select college graduates and train them in sales, providing them with a long-term career opportunity in our company. Moreover, we have promoted some of our employees to managing positions within the new stores, whereas other colleagues are working at our branches abroad,” Nica added.
ionut.bonoiu@zf.ro