MONTREAL -- Metro-Richelieu here said sales and earnings increased for the year and fourth quarter ended Sept. 27.
le sales climbed 5.1% to $2.4 billion and sales in the company's food segment grew 6.4%.
For the 12-week quarter, net income increased 10.6% to $11 million, while sales rose 4.2% to $562.2 million and sales in Metro's food segment went up 4.9%.
The company said capital expenditures for the year totaled $55.8 million, including $31.3 million invested in improving its retail network. Independent customers invested an additional $30.2 million, for a total retail investment of $61.5 million that included 32 major renovations, 41 expansions and the opening of four new outlets that extended retail floor space by 3.5%.
Metro-Richelieu said the company and its retailers plan to invest approximately $56.5 million next year in renovations, remodelings and new-store openings.
In another development, Metro-Richelieu said it has begun offering transportation services from its warehouse here in compliance with a court order to reinstate the service, which had been eliminated in 1995.
The company said it has asked retailers to use Metro's re-established service and has secured agreements to do so from operators that account for more than 67% of the facility's total delivery volume.