Metro overtakes Tesco as third-largest retailer in world

01/10/2010 | Times (London) (subscription required), The

A report on global retailing showed that the largest retailers all increased their sales in 2009, although many sacrificed margins to keep consumers spending. Britain's Tesco and Germany's Metro have swapped spots. "Many retailers 'bought' sales with heavy promotions which hit the bottom line hard. However, we are already seeing evidence that as economic recovery takes hold around the world, retailers should be able to return to a path of improving profitability," the report's author wrote.

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