German retail group Metro is to invest in its online and international operations following the sale of its Kaufhof department-store chain, its chief executive said in a recent interview with the business magazine WirtschaftsWoche.
"We plan an expansion of our investments in digital businesses, modernisation of older stores, more stores for Media Markt and Saturn, as well as for Metro Cash & Carry, also in new countries," Olaf Koch said.
The retail giant plans to open more international branches of its Media Markt and Saturn discount electronics stores.
Metro's Real banner is considering the launch of a delivery service for online orders with partners such as Tiramizoo, Koch said.
The news follows on from a deal signed with Hudson's Bay to purchase the Galeria Kaufhof department-store chain from Metro.
Metro agreed to sell the historic stores to Hudson’s Bay for €2.83 billion, with the sale including the store business in Germany and Belgium, and the corresponding property portfolio.
The deal is expected to be completed by the end of September.
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