Metro Inc. Q3 2020 food same-store sales increased almost 16 per cent, while total sales climbed close to 12 per cent and profits were up 18.2 per cent, continuing the company’s strong performance trend from previous quarters in 2020.
COVID-19 related expenses were $107 million in the quarter.
Food same-store sales were up 15.6 per cent compared to 3.1% in 2019 with food basket inflation at 3.0 per cent (2.5 per cent in 2019). Online food sales almost quadrupled in the quarter from a small base last year. Pharmacy same-store sales were up 1.0 per cent (3.4 per cent in 2019), with a 2.7 per cent increase in prescription drugs and a 2.5 per cent decrease in front-store sales.
“The coronavirus pandemic represented an unprecedented challenge for all our teams and I am truly proud of the work that was accomplished during the crisis. We delivered solid results in the third quarter, driven by the strong sales growth. Our priority remains the safety of our employees and our customers as we continue to invest in our stores, our supply chain and our merchandising programs to best serve our customers and ensure our long-term growth,” says Eric R. La Flèche, president and CEO.
