Metro Inc. food same-store sales increased 10 per cent and online food sales jumped 170 per cent in its first quarter of fiscal 2021 when compared to the same period in 2020.
Metro reported strong results overall, with sales up 6.2 per cent in the quarter, reaching $4,278.2 million when compared to the same period in 2020, with sales of $4,029.8 million. In addition to same-store sales growth, the company reported pharmacy same-store sales increase of 1.3 per cent.
“We are pleased with our first quarter results, delivering continued strong food sales with good operating leverage, while working through an 8-week labour conflict at our Jean Coutu distribution centre," says Eric La Flèche, president and CEO. “Our contingency plan enabled us to successfully maintain the supply of medication to over 400 pharmacies. We are now back to normal operating conditions in the distribution center. I want to again sincerely thank all our front-line staff who continue to deliver the essential services of food and pharmacy to our communities during this challenging lockdown period. Our first priority remains the safety of our employees and our customers.”
As a result of its performance, Metro raised its quarterly dividend.
The company is also accelerating its self checkout plans for stores and says it plans to have approximately 330 stores wit self checkout by the end of ifs fiscal year.