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Quebec, CA

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METRO INC. has announced its results for the second quarter which ended March 10, 2012. Sales results for the second quarter of 2012 reached $2,651.9 million, up 3.7% when compared to $2,557.5 million from the similar period last year. For the first 24 weeks of the year, sales reached $5,363.6 million, up 3.5% when compared to sales of $5,180.0 million for the same comparable period from the previous year. Adonis stores and distributor Phoenicia’s contributed $59.0 million to the second quarter sales and $92.0 million to the 24-week numbers for the Corporation’s sales. Same store sales increased 1.0% for the quarter.

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Net earnings for the second quarter revealed $96.1 million, up 12.1% over net earnings of $85.7 million for the corresponding quarter of 2011. Fully diluted net earnings per share also rose 14.6% to $0.94 from $0.82 when compared to last year, according to a press release. Net earnings for the 24 weeks of 2012 amounted to $199.8 million, an increase of 10.3% from $181.2 million last year. Fully diluted net earnings per share were also on the rise, resulting in $1.95 per share compared to $1.73 last year, showing an increase of 12.7%.

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Eric R. La Flèche, President and Chief Executive Officer, states, “We are pleased with our strong second quarter performance and our first-half results are encouraging as we continue to grow. Consumers remain cautious and we are confident that our customer-focused strategies will continue to deliver the great value that they are looking for in all of our banners."

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