Metro Inc. Q2 profit declines 14.5% to $187.1M due to supply chain expenses, while sales increase 1.6% to $4.66B.

Metro Inc. reported a 14.5% decline in Q2 profit to $187.1M or 83 cents per share, as the company continues to face higher-than-usual expenses related to investments in its supply chain. Despite this, sales increased by 1.6% to $4.66B, with food same-store sales up 0.2% and pharmacy same-store sales up 5.9%. The company plans to expand its own MOI loyalty program to cover all 275 of its Metro and Food Basics stores in Ontario after ending its partnership with Air Miles this fall.

April 24, 2024
7 Articles