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Metro 3Q results up on fresh sales

Metro 3Q results up on fresh sales

Metro Inc. on Wednesday said improved sales of fresh food led to a 4.3% same-store sales increase during its fiscal third quarter.

The Montreal-based retailer said overall sales climbed by 6.1% to around $2.9 billion (U.S.). Gross margin as a percent of sales increased to 19.8%, up from 18.9% in last year’s third quarter, primarily attributable to the acquisition of specialty bakery Première Moisson, and to higher sales of fresh products.

Net earnings were $126.1 million (U.S.), an improvement by 13.1% in the quarter.

“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,” the company said in a release.

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