Type Aktiengesellschaft Industry Retailing | Traded as FWB: MEO Area served Europe, Asia, Africa | |
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Founded 1964; Metro AG formed in 1996 Key people Olaf Koch (CEO)Franz Haniel (Chairman of supervisory board) Stock price MEO (ETR) € 29.10 +0.07 (+0.22%)17 Mar, 5:35 PM GMT+1 - Disclaimer Revenue 58.42 billion EUR (2015–2016) |
Metro AG, otherwise known as Metro Group, is a German global diversified retail and wholesale/cash and carry group based in Düsseldorf. 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).
Contents
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.
On June 15, 2015, Metro AG agreed to sell Galeria Kaufhof to Canadian retail conglomerate Hudson's Bay Company for $3.2 billion.
Sales divisions
The company operates the following sales divisions:
Division of the company
On March 30, 2016, Metro Group announced that it will be splitting into two independent companies:
· A leading international wholesale and food specialist, comprising Metro, Makro and Real, as well as a corresponding division and service companies.
· A leader in 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. As a result, the companies will be able to put a greater focus on their customer groups and markets in the future. Each of the two companies will launch as independent publicly traded company with their own management, board, and independent profile. This separation will allow the two companies to focus on their own customer groups and markets.
International presence
As of 2012, the Metro Group operated stores in 25 European countries, 5 Asian countries, and 1 in Africa.