29.07.1999
METRO AG Continues International Expansion
• METRO AG Confirms Positive Earnings Development in H1 1999
• METRO AG Opens Largest Shopping Center In Warsaw
At the end of July 1999, METRO AG (Cologne, Germany) will open its first M1 shopping center in the Polish capitol, Warsaw. The DIY specialist Praktiker will open the first M1 store on July 31, 1999, thus bringing the total number of Praktiker home improvement centers in Poland to 10.
With 53,000 m² selling space and 62 retailers, the new shopping center on the northern outskirts of Warsaw will secure an important role in greater metropolitan Warsaw and will be the largest retail center in Poland. The official opening date of the M1-Center, which will include Real and Media/Saturn, is scheduled for mid-September 1999.
METRO AG invested nearly DM 100 million in the new M1 Center. In total, METRO AG will invest DM 260 million in Poland in 1999, and expects to generate sales of nearly DM 3.8 billion in Poland with its operating units Makro Cash & Carry, Real, Praktiker and Media/Saturn.
The internationalization of METRO AG, Cologne, and the expansion of METRO‘s operations in 20 countries abroad are proceeding swiftly.
The business and earnings development of METRO AG Group in the first six months of 1999 were in line with expectations and confirm the increase in earnings expected by METRO AG.
The METRO AG interim report for 1999 will be released at the end of August 1999.
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