Metro Inc. reported a bump in income and gross sales throughout its second quarter as renewed lockdowns and curfews continued the pandemic’s dwelling cooking pattern.
The Montreal-based firm, which incorporates the Metro grocery retailer chain and Jean Coutu drugstores, mentioned Wednesday it recorded a 5 per cent uptick in gross sales and a revenue of $188.1 million, up from $176.2 million a 12 months in the past, for the quarter ended March 13.
“We had very stable ends in the second quarter … in what can solely be described as a difficult working surroundings,” president and CEO Eric La Fleche mentioned throughout a convention name with analysts.
“Our groups proceed to show nice dedication and resilience to serve our communities,” he mentioned. “I’m grateful for his or her work onerous.”
Metro paid out $8 million of reward playing cards to front-line staff within the quarter, and just lately introduced it will offer front-line employees one other spherical in Could starting from $75 to $300.
Redemption of the reward playing cards by employers has been almost instant, La Fleche mentioned, noting that the gesture has been appreciated by employees.
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Whereas the variety of consumers in shops — or the transaction rely — remained down within the quarter, he mentioned bigger basket sizes greater than offset the decrease variety of transactions.
General, meals same-store gross sales had been up 5.5 per cent, the corporate mentioned.
Metro operates a community of supermarkets below a number of banners together with the full-service grocery shops Metro and Metro Plus and the low cost shops Tremendous C in Quebec and Meals Fundamentals in Ontario.
In the meantime, Metro mentioned pharmacy same-store gross sales had been down 0.8 per cent.
Restrictions on the sale of non-essential items in Quebec mixed with a a lot milder chilly and flu season negatively impacted pharmacy gross sales within the second quarter, though core prescription gross sales remained stable, La Fleche mentioned.
Metro has about 650 drugstores primarily below the Jean Coutu, Brunet, Metro Pharmacy and Drug Fundamentals banners.
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The corporate mentioned its revenue amounted to 75 cents per diluted share for the quarter, up from 69 cents per share a 12 months in the past.
Gross sales within the quarter totalled $4.19 billion, up from $3.99 billion within the second quarter of 2020.
On an adjusted foundation, Metro mentioned it earned 78 cents per share for the quarter, up from an adjusted revenue of 72 cents per share final 12 months.
Analysts on common had anticipated an adjusted revenue of 76 cents per share and $4.15 billion in income, in line with monetary information agency Refinitiv.
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