German retail giant Metro said it suffered a net loss in the first quarter despite a slight increase in sales amid a difficult economic climate.
The company posted a net loss of €82m in the first three months, far exceeding the €3m loss seen a year earlier.
The drop was also more than the €54m expected by analysts.
Looking to 2012 as a whole, the company said in a written statement that it expected sales to increase and that profit would "roughly match the previous year's result".
Earnings before interest and taxes fell into the red, dropping €9m, compared to having reached €142m the same time a year earlier. The company said its results were hit by extensive investments and expansion costs.
