Metro's CEO expresses concern over potential US tariffs under President Trump and the weakening Canadian dollar, particularly as Canada relies heavily on the US for food imports. While Metro aims to source Canadian products, some staples are imported, making the company vulnerable to rising costs. Despite trade uncertainty, Metro remains optimistic about growth, citing recent supply chain investments and expansion of its loyalty program. The company plans to open 12 new stores in 2025, focusing on discount banners.
Metro is in "wait and see" mode ahead of potential tariffs from new U.S. President Donald Trump, and is keeping an eye on the weakening loonie at a time of year when Canada relies most on its southern neighbour for fresh food, said chief executive Eric La Flèche.
The past year saw the continued normalization of food inflation, said La Flèche, but trade disruptions could threaten that. Speaking at Metro's annual general meeting Tuesday morning, La Flèche said Metro plans to reap the benefits of recent investments in its supply chain that wrapped up in 2024, and to continue pursuing customer loyalty after expanding its Moi rewards program last year into Ontario.
The company raised its dividend Tuesday and reported a first-quarter profit of $259.5 million, up from a profit of $228.5 million in the same quarter last year.
TRADE WAR CANADIAN DOLLAR GROCERY INDUSTRY METRO INC ECONOMIC OUTLOOK
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump Hints at February Tariffs on Canadian Goods, While Canadian Politicians Back Away from Carbon PricingThis article covers several news stories from The Canadian Press. It starts with US President Donald Trump's suggestion of 25% tariffs on Canadian imports by February 1st, despite earlier indications of a study on trade practices. The article also discusses the three frontrunners in the Liberal leadership race shifting away from the Liberal government's carbon pricing policy. Other news covered includes Statistics Canada's upcoming release of December's inflation figures, thawing permafrost in the Arctic tundra, and a focus on the benefits of small care homes for long-term residents.
Read more »
Trump to Implement Tariffs on Canadian Goods, Prompting Canadian ResponseU.S. President Donald Trump's inauguration speech signaled his intention to impose tariffs on Canadian goods, reversing earlier reports that suggested a delay. Canadian officials have expressed preparedness for this move, outlining plans to defend Canadian interests and jobs.
Read more »
Canadian Sports News Roundup: Taylor's Triumph, Canadian Curling Trials, and MoreThis roundup covers a range of Canadian sports news, including Nick Taylor's victory at the Sony Open, updates on the Canadian mixed doubles curling trials, and more.
Read more »
Aritzia, Canadian Tire, Lululemon among Canadian retailers shifting production outside ChinaShoppers come and go from a Canadian Tire store in Ottawa on Aug. 11, 2023.
Read more »
Canadian veteran known as ‘Canadian Dave’ released by Taliban months after arrestDavid Lavery, a former Canadian Armed Forces soldier, has been safely flown out of Taliban hands, as a Qatari official confirmed he landed in Doha.
Read more »
Canadian veteran known as ‘Canadian Dave’ released by Taliban months after arrestDavid Lavery, a former Canadian Armed Forces soldier, has been safely flown out of Taliban hands, as a Qatari official confirmed he landed in Doha.
Read more »