The Wall Street Journal-20080111-Metro AG- Sales Rise- Offering Hope To Europe-s Retail Sector

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Metro AG: Sales Rise, Offering Hope To Europe's Retail Sector

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Metro AG, Germany's largest retailer, offered hope for Europe's troubled retail sector, as it reported an 8.3% rise in fourth-quarter sales, fueled by good performances in Eastern Europe and Asia. Retailers overall have been hit by reports of poor Christmas performances and the DJ Stoxx European retail sector index is down 14% this year. Sainsbury PLC, one of the United Kingdom's biggest supermarket chains, also reported strong fiscal-third-quarter sales following a good Christmas period, fueling investor hopes that food retailers fared better than most over the holiday season.