Metro Inc., a Canadian grocery and drugstore retailer, announced a first-quarter profit of $259.5 million, a significant increase from $228.5 million in the same period last year. The company attributed the growth to strong performance in both food and pharmacy sales.
A Metro grocery store is seen Tuesday, January 31, 2012 in Montreal. THE CANADIAN PRESS/Paul Chiasson
MONTREAL — Metro Inc. reported a first-quarter profit of $259.5 million, up from a profit of $228.5 million in the same quarter last year. The grocery and drugstore retailer says the profit amounted to $1.16 per diluted share for the 12-week period ended Dec. 21, up from 99 cents per diluted share a year earlier.Food same-store sales were up 1.0 per cent compared with a year earlier and up 2.4 per cent after adjusting for a shift of two significant pre-Christmas shopping days to the second quarter.
Pharmacy same-store sales were up 5.1 per cent with a 7.3 per cent increase in prescription drugs. Front-store same-store sales were up 0.5 per cent compared with a year ago and up 1.9 per cent after adjusting for the Christmas shift. On adjusted basis, Metro says it earned $1.10 per diluted share in its latest quarter compared with an adjusted profit of $1.02 per diluted share in the same quarter last year.
Metro Inc. Profit Grocery Sales Pharmacy Sales Food Retail
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