Grocery retailer Metro reports $217M fourth-quarter profit
Grocery and drugstore retailer Metro Inc. says it earned a fourth-quarter profit of $217.0 million, down from $219.9 million in the same quarter last year, as it was hit by costs related to problems at its frozen food distribution centre in Toronto.
The company says operations at the facility resumed last week after it was shut down for almost two months, but the temporary closure cost it $22.5 million in the quarter.
The company behind the Metro grocery chain and Jean Coutu drugstores says its profit amounted to $1.00 per diluted share for the 12-week period ended Sept. 27, up from 98 cents per diluted share a year ago when it had more shares outstanding.
Sales for the quarter totalled $5.11 billion, up from $4.94 billion in the same quarter last year.
"We ended our 2025 fiscal year with a solid fourth quarter, delivering adjusted fully diluted net earnings per share growth of 10.8%, achieving our financial framework on all metrics for the year,” said Eric La Flèche, president and chief executive officer in a release accompanying the results.
READ: Metro reports Q2 results, launches Moi Rewards in Ontario
“After almost two months of shutdown, I am pleased to report that we resumed operations last week at our frozen distribution centre in Toronto and expect to be essentially back to normal by the end of December. I want to thank all our teams who continue to execute our contingency plan to supply our stores, thereby minimizing the impact on our customers. During the quarter, we successfully opened four new food stores and converted two others, and we are confident that our sustained investments in our retail network combined with effective merchandising and strong execution will continue to resonate well with customers and create long-term shareholder value.”
Food same-store sales for the quarter were up 1.6 per cent, while pharmacy same-store sales gained 4.8 per cent with a 5.5 per cent increase in prescription drugs and a 2.9 per cent increase in front-store sales.
On an adjusted basis, Metro says it earned $1.13 per diluted share in its latest quarter compared with an adjusted profit of $1.02 per diluted share in the same quarter last year.
With additional files from Metro Inc.
