Metro Inc. reports Q2 profit up from year ago
The increase came as food same-store sales rose 1.8 per cent for the quarter.
Grocery and drugstore retailer Metro Inc. reported a second-quarter profit of $246.6 million, up from $220.0 million a year earlier.
The company says the profit amounted to $1.16 per diluted share for the 12-week period ended March 14 compared with a profit of 99 cents per share in the same quarter last year.
Sales for the quarter totalled $5.11 billion, up from $4.91 billion a year earlier.
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Pharmacy same-store sales were up 5.1 per cent, boosted by a 6.1 per cent increase in prescription drugs and a 2.8 per cent increase in front-store sales.
On an adjusted basis, Metro says it earned $1.11 per diluted share in its latest quarter, up from $1.02 per diluted share a year earlier.
