Profits Slide at Metro as LaFleche Ascends to CEO

The competitive environment that still prevails in Ontario, along with continued pressure of a systems conversion, added up to a difficult second fiscal quarter of retailer Metro Inc. here and its newly named chief executive officer, Eric LaFleche.

MONTREAL — The competitive environment that still prevails in Ontario, along with continued pressure of a systems conversion, added up to a difficult second fiscal quarter of retailer Metro Inc. here and its newly named chief executive officer, Eric LaFleche. As previously announced, LeFleche ascended to the CEO role at Metro Tuesday, taking over for Pierre Lesard, who is retiring. Financial results for the quarter that ended March 15 were a sequential improvement from the first quarter, when sales were down by 0.3% and adjusted net earnings decreased by 18.6%, LaFleche said in a statement. "The progress realized in working with our new Ontario information systems and the integration of our Québec Food Services operations will enable us to focus, over the next months, on improving our results,” he said.

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