Germany's Metro Plans To Open More Retail Stores In China In 2013

Germany-based retailer Metro Cash & Carry said it plans to open 12 stores in China in 2013, after an equally rapid expansion in the previous year. Believing that the recent economic slowdown in China is not part of the overall trend, Metro said it will focus on opening in more locations in the country. While Metro China, which reported a 23 percent growth in revenue to €1.89 billion in 2012, is expanding its operations, other major retailers have put on hold or scaled down their expansion plans because of slowdown in growth.