Metro 1Q Profit, Sales Rise

Dow Jones

Jan 28

By Adriano Marchese

Metro's profit rose in its first fiscal quarter, a period that included a portion of the key Christmas period which drove sales higher.

For the three months ended Dec. 21, the Canadian grocer on Tuesday posted a rise in net income to 259.5 million Canadian dollars ($180.5 million), or C$1.16 a share, up from C$228.5 million, or C$0.99 a share, in the comparable quarter a year ago.

Adjusted earnings were C$1.10 a share, ahead of analyst expectations of C$1.09 a share, according to FactSet.

Sales rose 2.9% to C$5.12 billion. Analysts expected C$5.13 billion.

Food same-store sales rose 1%, which represents a 2.4% increase when adjusting for the Christmas week shift where two of the key shopping days in the period fell in the second fiscal quarter. Pharmacy same-store sales rose 5.1%.

The Metro board declared a dividend of C$0.37 a share for the quarter, a 10.4% increase over the prior-year period.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

January 28, 2025 07:24 ET (12:24 GMT)

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Analysts expected C$5.13 billion.Food same-store sales rose 1%, which represents a 2.4% increase when adjusting for the Christmas week shift where two of the key shopping days in the period fell in the second fiscal quarter. 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