Metro posts strong profit

Metro Inc. posted an 8.6 per cent increase in profit for the first quarter, but sales increased by only nine-tenths of one per cent to $4.3 billion, less than food-price inflation of 3.5 per cent for the supermarket chain’s products.

Metro is Canada’s third-largest supermarket chain with banners such as Food Basics and Super C and Jean Coutu pharmacies.

Sales increased substantially two years ago when COVID-19 lockdowns closed restaurants and cafeterias, but now there has been a return to buying restaurant fare, usually for take-out or home delivery.