German retailer Metro AG has announced that it will invest more in its online and international operations.
This revelation follows the $3.18 billion sale of its Kaufhof department store chain to Hudson’s Bay Co. The Canadian retailer plans to expand Kaufhof’s e-commerce “aggressively” in order to take advantage of the roles its stores can play as local distribution centres. While e-commerce is growing quickly in Germany, stores like Kaufhof have been slower than their North American rivals to integrate online fully with their stores.
Metro, Europe’s fourth-largest retailer, sold Kaufhof to focus on developing its cash-and-carry and consumer-electronics business. The company now aims to open more of its Media Markt and Saturn discount electronics stores outside of Germany, and is considering adopting an online-based delivery service for its Real-branded stores. CJ
