Canadian grocery retailer Metro has posted a fall in third-quarter profit as a result of increased competition in Quebec.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Montreal-based company posted earnings of C$50.8m (US$38.5m), or 51 cents per share, for the third quarter to 3 July, compared to $52.4m, or 53 cents per share, in the year-ago period. Analysts had been expecting, on average, earnings of 54 cents per share, reported Reuters.
Metro said its revenue increased to $1.8bn, compared to $1.7bn a year earlier, helped by higher sales of food and pharmaceuticals. Same-store sales for the third quarter edged up 0.2%.
