METRO Inc. announced on Wednesday its financial results for the second quarter of Fiscal 2025 ended March 15, 2025, indicating sales continued to rise for the company.
2025 SECOND QUARTER HIGHLIGHTS
- Sales of $4,909.9 million, up 5.5%
- Food same-store sales up 5.3% and up 3.9% when adjusting for the Christmas week shift
- Pharmacy same-store sales up 7.0%
- Net earnings of $220.0 million, up 17.6% and adjusted net earnings of $226.6 million, up 9.8%
- Fully diluted net earnings per share of $0.99, up 19.3% and adjusted fully diluted net earnings per share of $1.02, up 12.1%
“We delivered solid results in the second quarter, driven by strong sales growth in both food and pharmacy as our teams continue to focus on bringing value to our customers across our different banners. We are actively promoting and highlighting Canadian products in our stores and online, as well as sourcing products from our international supplier base to respond to the needs of our customers. Despite the current uncertain economic environment, we are confident that our sustained investments in our retail networks and supply chain combined with strong execution will continue to fuel our growth,” said Eric La Flèche, President and Chief Executive Officer.
With annual sales of more than $21 billion, METRO is a food and pharmacy leader in Québec and Ontario, providing employment to more than 97,000 people.
The company said sales in the second quarter of Fiscal 2025 were $4,909.9 million, up 5.5% versus the second quarter of the prior year which ended on March 16, 2024. Sales were positively impacted by the transfer of two significant pre-Christmas shopping days to the second quarter this year.
Food same-store sales were up 5.3% in the second quarter of Fiscal 2025 and up 3.9% when adjusting for the Christmas shift. Online food sales were up 26.2% versus last year. When adjusting for the sales tax holiday, its food basket inflation was slightly lower than the reported CPI for food purchased from stores. Pharmacy same-store sales were up 7.0% with a 7.8% increase in prescription drugs and a 5.3% increase in front-store sales . When adjusting for the Christmas shift, the increase in front-store sales was 3.7%, it explained.
Sales in the first 24 weeks of Fiscal 2025 totalled $10,027.0 million, up 4.1% compared to $9,629.7 million for the corresponding period of 2024, added Metro.
“The significant investments in the modernization of our supply chain are largely behind us, and we are now focussed on realizing efficiency gains and improving the service to our store network. These investments position us well for growth through the expansion of our retail network in the years ahead. As we begin our third quarter, we face an uncertain economic environment, and it is difficult to predict how this environment will evolve and how it will impact our operations and our customers. To date, the recently introduced tariffs and counter-tariffs have not had a material impact on our business, however the situation remains highly volatile. We remain steadfast in our focus to deliver value to our customers through our robust merchandising programs, our strong private label and loyalty offers and working with our supply chain partners,” said the company.
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