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TechnologyMetro Inc. reports second-quarter profit and sales up from a year ago

11:27  18 april  2019
11:27  18 april  2019 Source:   msn.com

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Metro Inc . (MRU.TO) reported strong food sales amid higher prices for fresh fruit and vegetables in its most recent quarter , though the company Excluding the Jean Coutu Group, Metro said sales were up 4.0 per cent compared with a year ago . Pharmacy same-store sales gained 1.1 per cent.

MONTREAL — Metro Inc . reported its second - quarter profit and sales were up compared with a year ago , boosted by its acquisition of the Jean Coutu Group drug store chain last year . The grocer says it earned 1.5 million or 47 cents per diluted share for the 12-week period ended March 16

Metro Inc. reports second-quarter profit and sales up from a year ago© Provided by Canadian Press Enterprises Inc

MONTREAL — Metro Inc. reported its second-quarter profit and sales were up compared with a year ago, boosted by its acquisition of the Jean Coutu Group drug store chain last year.

The grocer says it earned $121.5 million or 47 cents per diluted share for the 12-week period ended March 16, up from a profit of $106.9 million or 47 cents per share a year ago.

Sales totalled $3.7 billion, up from $2.9 billion. Excluding the Jean Coutu Group, Metro says sales were up 4.0 per cent compared with a year ago.

Food same-store sales rose 4.3, while pharmacy same-store sales gained 1.1 per cent.

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Quebecor reports fourth- quarter profit up from year ago , raises dividend. MONTREAL -- Metro Inc . (MRU.TO) says a strong economy and low unemployment are driving customers to its Sales for stores open at least a year -- a key retail metric -- were down 1. 2 per cent, but would have been up

Metro Inc . says it earned 1.7-million in its latest quarter , up from 5.6-million a year ago . That compared with a profit of 6. 2 -million or .69 per share on .6-billion in sales the previous year . Metro has more than 800 grocery stores including the Metro , Metro Plus, Super C and Food

On an adjusted basis, Metro says it earned 60 cents per share for the quarter, up from an adjusted profit of 47 cents per share a year ago.

Analysts on average had expected a profit of 63 cents per share and revenue of $3.73 billion, according to Thomson Reuters Eikon.

Metro closed its $4.5-billion acquisition of Jean Coutu on May 11, 2018.

The company said Wednesday that Francois J. Coutu will retire as president of the Jean Coutu Group (PJC) Inc., Metro's pharmacy division, on May 31.

Alain Champagne has been named as his successor.

Companies in this story: (TSX:MRU)
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