Metro sales up by 3.4 per cent

 

Metro Inc. reported a sales increase of 3.4 per cent for its fourth quarter, which is less than the rate of food price inflation tracked by Statistics 
Canada.

Net earnings slipped from $219 million from $217 million, but that was impacted by a $22.5 million loss when its frozen foods distribution centre for Ontario failed and was shut down for two months for repairs. 

There was loss of some frozen products.

As with Loblaws which reported its earnings a few days earlier, it was Metro’s discount stores – Food Basics and Super C – that had the best sales performance.