• FY profits and sales up
  • Same-store sales increase in FY and Q4
  • Rival Loblaw saw Q3 same-store sales fall 
Sales were up at Metro, while they were down at Loblaw

Sales were up at Metro, while they were down at Loblaw

Canadian retailer Metro Inc has reported higher annual profits - and seen sales in its most recent quarter outstrip rival Loblaw.

Metro's full-year earnings were boosted by its acquisition of local rival Marché Adonis and higher sales from existing stores.

It also yesterday (14 November) reported an increase in fourth-quarter same-store sales. Loblaw booked a fall in same-store sales for the third quarter of the year. 

Metro's annual net earnings were up 24.6% to C$489.3m (US$488.7m) for the year to 29 September. Excluding a gain from its investment in c-store retailer Couche-Tard and costs filed last year from asset closures, Metro reported a 15.6% rise in profits to C$470.6m.

Sales were up 5.4% to C$12.01bn, thanks in part to the contribution of Adonis, which Metro acquired last year, and the impact of an extra week in the financial year. Nevertheless, same-store sales increased 1.2%.

Fourth-quarter same-store sales were up 1.1%. Metro rival Loblaw yesterday reported its results for the third quarter its financial year. Its same-store sales in the three months to the end of September fell 0.2%.

Show the press release

 

METRO REPORTS GROWTH OF 27.8% IN 2012 FOURTH QUARTER ADJUSTED NET 

EARNINGS PER SHARE

(1)

(Montreal, November 14, 2012) – METRO INC. (TSX : MRU) announced its results today for the fourth quarter and 

fiscal year ended September 29, 2012.

2012 FOURTH QUARTER HIGHLIGHTS

13-week quarter versus 12 weeks in 2011

Net earnings of $145.1 million, or $1.46 per share, up 75.9%

Adjusted net earnings (1) of $123.4 million, or $1.24 per share, up 27.8%

Sales of $2,943.7 million, up 11.1%

Same store sales up 1.1%

Declared dividend of $0.215 per share, up 11.7%

FISCAL 2012 HIGHLIGHTS

53-week fiscal year versus 52 weeks in 2011

Net earnings of $489.3 million, or $4.84 per share, up 27.7% 

Adjusted net earnings (1) of $470.6 million, or $4.65 per share, up 18.3%

Sales of $12,010.8 million, up 5.4%

Same store sales up 1.2%

 

Original source: http://metro.ca/userfiles/File/Corpo/resultats-trimestriels/metro-2012-Q4-EN-Press%20Release.pdf