Metro Inc. reports lower Q2 profit of $96.9M

Global News

MONTREAL – Supermarket chain Metro beat analyst expectations as it benefited during the second quarter from a “slight” increase in its prices for the first time in a year.

The Montreal-based company earned $96.9 million in the period ended March 15, down from $362.7 million a year ago when Metro had a $266.4 million gain from the partial sale of its investment in Alimentation Couche-Tard (TSX:ATD.B).

Excluding this and the sale of a Quebec warehouse, Metro’s (TSX:MRU) latest results were slightly above last year’s second-quarter adjusted net earnings of $96.4 million.

Adjusted earnings from continuing operations were $1.07 per share, up from 98 cents per share last year and five cents per share above analyst estimates.

Overall sales were up 1.7 per cent to $2.55 billion as same-store sales — a key retail measure of sales for stores open at least a year — increased by one per cent.


View original post 275 more words


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s