Metro Getting Tougher On Underperformers As It Pulls Out

Europe's second largest retailer by annual sales Metro AG has quit Morocco after agreeing to sell its eight cash & carry stores to Carrefour's franchisee La Vie for about EUR120mn. Although Morocco formed a very small part of Metro's global business, with sales of EUR208mn in 2009 compared to group cash & carry sales of more than EUR30bn, the decision to divest is significant firstly because it is the first time that Metro has quit an international market and more significantly, it underlines a more hard-line stance on underperforming international markets.

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