MONTRÉAL, CANADA - Third quarter results are in! As Canadian retail powerhouse METRO unveils its performance for Q3 of fiscal 2024, we are seeing the result of successful growth strategies and expansions. Backed by its newest fresh facilities, the retailer continues to deliver operational growth despite current industry pressures.
“We recorded solid comparable sales growth in the third quarter, on top of a very strong quarter last year, reflecting effective merchandising and good execution in our food and pharmacy banners,” Eric La Flèche, President and Chief Executive Officer. “Our new automated fresh and frozen facility in Terrebonne is now fully operational with productivity levels ramping up in line with our plans, and the transfer to the last phase of our automated fresh facility in Toronto has begun. While food inflation continues to decline, we know the environment remains difficult for many of our customers, and our teams are focused on offering them the best value possible.”
As METRO revealed in its financial report, sales for the third quarter period ending July 24, 2024, reached CDN $6.6 billion (USD 4.8 billion). This demonstrates a rise of 3.5 percent versus the third quarter of the prior year, mainly driven by higher sales across the grocer’s retail network. The company also saw growth in food same-store sales, which were up 2.4 percent in the third quarter of 2024.
With its new Terrebonne facility fully in operation and its transition to its new automated fresh facility in Toronto currently underway, how will METRO continue to drive growth through its fresh operations?
ANUK will be here to provide the latest insights.
