June 4, 2018 / 7:55 AM / in 2 months

Metro will correct Russia situation soon - CEO

FRANKFURT, June 4 (Reuters) - The chief executive of Metro is hopeful that the German retailer will turn around its struggling Russian business soon, he said on Monday.

“I am very optimistic we will correct that situation in the near future,” Olaf Koch told an event in Berlin to promote Metro’s cooperation with start-ups, describing the problems in Russia as “a bit of a hiccup”.

Metro said last month it hopes to stabilise its shrinking Russian business in the coming months after overhauling management and introducing bulk discounts to attract more independent traders and restaurant owners. (Reporting by Emma Thomasson Editing by Maria Sheahan)

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