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Metro Inc. saw lower profit due to a Toronto distribution center closure, but raised its dividend and reported sales growth.
Metro Inc. reported a decline in first-quarter profit for the 12-week period ended December 20, 2025, due to costs from the temporary closure of its Toronto frozen food distribution centre, which halted operations from September 12 to November 10.
Net income fell to $226.3 million, or $1.05 per share, from $259.5 million, or $1.16 per share, a year earlier.
Adjusted earnings per share rose to $1.16 from $1.10.
Total sales increased to $5.29 billion, driven by a 1.6% rise in food same-store sales and a 3.9% increase in pharmacy sales, including a 5.1% gain in prescriptions.
The company raised its quarterly dividend to 40.75 cents per share from 37 cents.
CEO Eric La Flèche said the Toronto facility disruption is now behind the company and highlighted plans to open or convert about a dozen new discount stores, citing ongoing economic pressures from inflation and rising housing and food costs.
Metro Inc. registró una menor ganancia debido al cierre de un centro de distribución de Toronto, pero aumentó su dividendo e informó un crecimiento de las ventas.