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Metro Announces Strong Q2 2015 Financial Results

Metro Announces Strong Q2 2015 Financial Results

MONTREAL, QC - Metro Inc. has released its 2015 Q2 financial report and the results are stong. Metro’s profits have grown by 15% over the same quarter last year, and the company’s executives are pleased. 

Eric R. La Flèche, President and Chief Executive Officer, Metro“Our second quarter results were very solid as all our banners contributed to our strong sales performance. We are confident that our strategies, supported by our team's good execution, will continue to sustain our growth going forward in a market that remains very competitive,” stated Eric R. La Flèche, President and Chief Executive Officer in a press release.

Sales in general for the second quarter of 2015 were positive. Revenue from sales totaled $2.7 billion, up 6.0% compared to the same quarter last year. 

“We have not been able to pass through some of the costs in meat and produce because of competitive realities and consumer reaction … [but] our merchandisers did a good job to manage the mix and focus on other products to keep our sales momentum and deliver our margin while delivering value for our customers,” La Flèche said in a conference call to investors.

Other highlights from the report include:

  • Same-store sales were up 4.5%
  • Net earnings of $111.6 million, up 15.2%
  • Fully diluted net earnings per share of $0.43, up 19.4%
  • Declared dividend of $0.117(1) per share, up 16.7%

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