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04/21/2021

Metro reports Q2 profit and sales up from year ago

The grocery and drugstore retailer beats analysts' expectations, reporting $4.19 billion in sales for the quarter
Shutterstock/ Paul McKinnon

Metro Inc. reported a second-quarter profit of $188.1 million, up from $176.2 million a year ago, as its sales rose 5%.

The grocery and drugstore retailer says the profit amounted to 75 cents per diluted share for the quarter ended March 13, up from 69 cents per share a year ago.

Sales in the quarter totalled $4.19 billion, up from $3.99 billion in the second quarter of 2020.

Food same-store sales were up 5.5%, while pharmacy same-store sales were down 0.8%.

On an adjusted basis, Metro says it earned 78 cents per share for the quarter, up from an adjusted profit of 72 cents per share last year.

Analysts on average had expected an adjusted profit of 76 cents per share and $4.15 billion in revenue, according to financial data firm Refinitiv.