MONTRÉAL - METRO INC. announced its results for the second quarter of Fiscal 2026 ended March 14, 2026.
2026 Second Quarter Highlights
- Sales of $5,113.0 million, up 4.1%
- Food same-store sales up 1.8%
- Pharmacy same-store sales up 5.1%
- Net earnings of $246.6 million, up 12.1% and adjusted net earnings of $236.5 million, up 4.4%
- Fully diluted net earnings per share of $1.16, up 17.2% and adjusted fully diluted net earnings per share of $1.11, up 8.8%
- Returned $222.5 million to shareholders through share repurchases
- Opened or converted three stores in the quarter
President's Message
"We delivered solid second quarter results, driven by strong revenue growth and disciplined expense control, as our teams continue to offer the best possible value to customers across all our banners. We are very pleased with the expansion of our discount store network, which continues to fuel food sales growth, as well as with the sustained sales momentum in our pharmacy business. We are disappointed with the strike at our produce distribution center in Laval; our contingency plan is in place, and our Quebec stores are now generally well stocked. We look forward to a resolution that considers the needs of our employees and customers while ensuring the long-term competitiveness of our company,", declared Eric La Flèche, President and Chief Executive Officer, in the recent release
Operating Results
Sales in the second quarter of Fiscal 2026 ended on March 14, 2026 were $5,113.0 million, up 4.1% versus the second quarter of the prior year which ended on March 15, 2025. Sales were positively impacted by new store openings, same-store sales growth, as well as the transfer of one significant pre-Christmas shopping day to the second quarter this year.
Food same-store sales were up 1.8% in the second quarter of Fiscal 2026 (2025 — 5.3%) and up 1.5% when adjusting for the Christmas shift. Online food sales were up 19.8% versus last year (2025 — 26.2%). Our food basket inflation was in line with the reported CPI of 4.3% for food purchased from stores.
See the full release here.
