Metro’s target to open stores on track
Print Edition
METRO Cash & Carry China said it will open two to three new stores in China by the end of this fiscal year in September to meet the growing demand from small businesses and caterers.
Metro has already opened seven stores of the 10 new outlets it plans to open in this fiscal year ending on September 30. The company has 76 stores in 53 domestic cities. China is Metro Cash & Carry’s third-largest market by the number of stores, behind Germany and France.
The company will focus on corporate clients who buy gifts for employees or customers as well as small business operators and restaurant owners, Jeroen de Groot, president of Metro Cash & Carry China, said in Shanghai yesterday.
He said the company’s focus on corporate customers is to differentiate itself from big box discount retailers as it doesn’t have the cheap prices to attract individual buyers. It will launch a food distribution center for caterers in Qingdao later this year to deepen service for its core corporate customers.
Metro’s revenue in the 12 months ended on September 30, 2013, rose 8 percent year on year to 17 billion yuan (US$2.7 billion).
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