<p> METRO recently announced the results for its third quarter which ended July 6, 2013. Due to mediocre sales, the company revealed it will proceed in the coming months to reorganize its Ontario store network including the conversion of certain Metro stores into Food Basics discount banner stores, the buyout of some collective agreement provisions, the offer of early exit to some employees and the closure of some stores. Costs for the restructuring from this decision are estimated to be $40 million CAD or $38.8 million USD. The costs will be incurred in the next quarter. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Sales in the third quarter of 2013 decreased 7% from $3,599.9 million last year to $3,573.3 million this year. The company reported that, excluding the one-day shift of a holiday versus last year and the closure of some unprofitable stores, the 2013 third quarter sales remained stable compared to 2012. During the last quarters, a very low inflation of food basket and increased competition affected its sales, according to a press release. Same-store sales decreased 0.9%.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Sales in the first 40 weeks of 2013 reached $8,791.2 million versus $8,812.7 million last year. Very low food inflation, increased competition, the closure of underperforming stores, and the temporary problems at its pharmaceutical product warehouse caused sales to decrease. dip. EBITDA for the third quarter of 2013 was increased up 2.5% from $265.6 million to $259.1 million for the same quarter last year. Third-quarter EBITDA represented 7.4% of sales versus 7.2% last year.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>"We achieved net earnings growth in the third quarter due to good margin management and strong operating cost control in a difficult competitive environment, particularly in Ontario. In order to better meet customer needs and reduce operating costs, we will carry out a reorganization of our Ontario store network over the next few months that will affect some 15 stores and entail a restructuring charge of about $40 million in the next quarter. We are confident that these investments in our network, combined with our merchandising programs will allow us to continue to grow despite increased competition," stated Eric R. La Flèche, President and Chief Executive Officer.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>The company also announced it is partnering with Target. Target and METRO INC.’s subsidiary, McMahon Distributeur pharmaceutique Inc is teaming up in regards to the operation of in-store pharmacies at Target locations across Quebec. The partnership under McMahon’s Brunet banner will provide pharmacies in the majority of Quebec store locations and help deliver on a mutual commitment to making healthcare an essential part of the Target guest experience.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>“We’re pleased with the feedback we’ve received at the 62 in-store pharmacies that are currently in operation throughout Canada, and look forward to delivering superior, patient-focused healthcare to our guests in Quebec,” said Tony Fisher, president, Target Canada. “Brunet’s reputation as a leader in promoting patient health and well-being, combined with its specialized product offering, makes Brunet the ideal strategic partner to help us deliver outstanding patient care in Quebec.”</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>In particular, guests will benefit from the Brunet banner’s exclusive MaSanté online tool, which will provide them with personalized options to access their personal file online. Target plans to open 124 stores across Canada throughout 2013 and will open its first 25 stores in Quebec this fall.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.metro.ca/corpo/accueil.en.html" target="_new">Metro</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
