Last week, Metro Inc. said improved sales of fresh food led to a 4.3 per cent increase in same-store sales during its third quarter. Overall sales for the Montreal-based grocery retailer climbed 6.1 per cent to around USD $2.9 billion during this time.
“Our constant striving to stay on top of consumers’ needs and our investments in our retail network allowed us to increase sales in a highly competitive market,” notes the company.
Additionally, its gross margin as a percent of sales increased to 19.8 per cent, up from 18.9 per cent in last year’s third quarter. This was primarily attributable to the acquisition of specialty bakery Première Moisson as well as higher sales of fresh products. Also, net earnings were USD $126.1 million, an improvement by 13.1 per cent in the quarter.
