A Metro store is seen in Ste-Therese, Que., Monday, April 15, 2019. THE CANADIAN PRESS/Ryan Remiorz
MONTREAL – Metro Inc. reported a fourth-quarter profit of $222.2 million, up from $168.7 million in the same quarter last year as its sales rose 14 per cent.
The grocer says the profit amounted to 96 cents per diluted share for the 13-week period ended Sept. 30, up from 70 cents per diluted share a year earlier when the quarter included 12 weeks.
Metro says a five-week strike at 27 stores in the Greater Toronto Area during the quarter had a negative impact on its bottom line of about $27 million after taxes or 12 cents per share, while the extra week in the period had a favourable impact of $27 million net of tax or 12 cents per share.
Sales in the quarter totalled $5.07 billion, up from $4.43 billion a year earlier.
The increase came as food same-store sales rose 6.8 per cent and pharmacy same-store sales gained 5.5 per cent.
On an adjusted basis, Metro says it earned 99 cents per share in its latest quarter, up from an adjusted profit of 92 cents per diluted share a year earlier.
This report by The Canadian Press was first published Nov. 15, 2023.
Companies in this story: (TSX:MRU)
