Montreal – Canadian grocery retailer Metro Inc. reported medium results for its third quarter fiscal 2014. Net earnings for third quarter 2014 were $144.5 million, an increase of 0.1% from net earnings of $144.4 million for the same quarter of 2013.
Sales in third quarter 2014 totaled $3.62 billion, up 1.4% compared to $3.57 billion for the same quarter the prior year. Same-store sales were up 1%. Metro’s aggregate food basket experienced inflation higher than previous quarters but lower than the consumer price index of food purchased from stores. The company attributed merchandising strategies and investments, as well as a reorganization of its Ontario store network, as enabling sales growth in a competitive market.