Metro Inc. Q2: Solid Growth & Strike Challenge

0:00It's April 22nd. Welcome in, this is Canada News today, where local news meets AI. Metro Inc. just dropped their second quarter financials for fiscal 2026, ending March 14th. Sales climbed 4.1% to $5 billion, $113 million. Food same-store sales rose 1.8% while pharmacy same-store sales jumped 5.1%. Net earnings hit $246.6 million, up 12.1% from last year. Adjusted net earnings came in at $2.36.5 million, a 4.4% increase. Arnie's per share also improved, with fully diluted at $1.16, up 17.2%. President and CEO, Eric LaFlesh, called the results solid thanks to strong revenue growth and tight expense control. He highlighted the expansion of discount stores, boosting food sales and steady pharmacy momentum. The company returned $222.5 million to shareholders via buybacks and opened or converted

1:04three stores. LaFlesh-Shay expressed disappointment over a strike at their produce distribution center in Laval, Quebec. A contingency plan is active, and stores there are now mostly stocked. They're pushing for a resolution that balances employee needs, customer service, and long-term competitiveness. Metro stands as a major player in food and pharmacy across Quebec and Ontario, with over $22 billion in annual sales and $97,000 employees powering nearly 1,000 stores.