MONTRÉAL, CANADA - METRO is reaping the benefits of successful growth strategies—including continued investments in fresh through via two cutting-edge facilities—and delivering growth for its second quarter of fiscal 2024.

"We are pleased with our sales performance in the second quarter on top of a strong quarter last year and with inflation continuing to decline. Our results met our expectations as we completed the bulk of the transition to our new automated fresh and frozen facility in Terrebonne," said Eric La Flèche, President and Chief Executive Officer. "Going forward, our teams are focused on ramping up productivity, and we are now gearing up for the launch of the final phase of our Toronto automated fresh facility this summer. Finally, we are announcing today the launch of our MOI Rewards program in our Ontario food stores later this year, which will provide even more savings to our customers. We are confident that our sustained investments in our supply chain, our retail networks, and our digital capabilities will continue to create long-term value for our shareholders."

The retail operation pointed to several key areas of growth during Q2, which ended March 16, 2024. Some highlights include:

• Ramp up of new automated Terrebonne distribution center on track
• Sales of $4,655.5 million, up 2.2 percent
• Food same-store sales up 0.2 percent, and up 2.7 percent when adjusting for the Christmas week shift
• Net earnings of $187.1 million, down 14.5 percent, and adjusted net earnings of $206.4 million, down 8.4 percent
• Fully diluted net earnings per share of $0.83, down 10.8 percent, and adjusted fully diluted net earnings per share of $0.91, down 5.2 percent

The full report can be accessed here.

As the retailer funnels increased investments into its fresh operations, ANUK will continue to report on its growth and more.