Metro Inc. reports a Q1 profit of $228.5M, 6.5% sales increase, raises dividend, anticipates 2024 headwinds from new distribution center and fresh produce plant.

Grocery and drugstore retailer, Metro Inc., reported a first-quarter profit of $228.5 million with a 6.5% increase in sales. The company has raised its dividend to 33.5 cents per share, up from 30.25 cents per share. Despite these positive results, Metro expects significant headwinds in 2024 due to the launch of its automated distribution center and the final phase of its automated fresh produce plant, resulting in temporary cost duplication and learning curve inefficiencies.

January 30, 2024
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