METRO Announces $3.5 Billion in Sales as Part of 2021 First Quarter Report
CANADA - The importance of grocery cannot be overstated, especially in times such as these. As retailers work to keep shelves stocked, we here at AndNowUKnow continue to cheer them on from the sidelines. One way that we incorporate our virtual cheering is by looking out for financial reports, as these contain little nuggets of operational opportunities. Our latest find is METRO’s first quarter results, which saw a rise in its grocery sales.
"We are pleased with our first quarter results, delivering continued strong food sales with good operating leverage, while working through an 8-week labor conflict at our Jean Coutu distribution center. Our contingency plan enabled us to successfully maintain the supply of medication to over 400 pharmacies. We are now back to normal operating conditions in the distribution center. I want to again sincerely thank all our front-line staff who continue to deliver the essential services of food and pharmacy to our communities during this challenging lockdown period. Our first priority remains the safety of our employees and our customers," commented Eric La Flèche, President and Chief Executive Officer, in a press release.
According to the report, a few of the 2021 first quarter highlights are as follows.
- Sales of CAN $4.2 billion (U.S. $3.5 billion), up 6.2 percent
- Food same-store sales up 10.0 percent
- Net earnings of CAN $191.2 million (U.S. $150.6 million), up 12.3 percent
To see more of METRO’s financial report, click here for the entire release.
As always, AndNowUKnow will be here to report the latest in retail, so you know what to do: Stay tuned.