MONTÉAL, QUEBÉC, CANADA - METRO recently announced its results for the fourth quarter of Fiscal 2024 ended September 28, 2024.
"Our 2024 fiscal year ended with a solid fourth quarter driven by strong comparable sales growth in both food and pharmacy on top of a very strong quarter last year. Our results for this transition year met our expectations and have landed well within the guidance provided last year," declared Eric La Flèche, President and Chief Executive Officer. "With the transfer to the last phase of our automated fresh facility in Toronto now complete, we have reached the final milestone of our seven-year, nearly billion-dollar investment in the modernization of our supply chain, providing capacity for future growth and efficiency. Finally, our MOI Rewards program was successfully launched in Ontario at the end of October, and we are very pleased with the customer response to date, with more than 1,000,000 new members in just under four weeks."
As shared in a press release, the company’s 2024 fourth-quarter highlights include:
- 12-week quarter versus 13 weeks in 2023
- Sales of $4,938.4 million, down 2.6 percent and up 5.7 percent based on 12 weeks in 2023
- Food same-store sales up 2.2 percent
- Net earnings of $219.9 million, down 1 percent, and adjusted net earnings of $226.5 million, down 1 percent
- Fully diluted net earnings per share of $0.98, up 2.1 percent, and adjusted fully diluted net earnings per share of $1.02, up 3 percent
- Transfer to the last phase of our automated fresh facility in Toronto completed
Full-year 2024 fiscal highlights include:
- 52-week fiscal year versus 53 weeks in 2023
- Sales of $21,219.9 million, up 2.4 percent and up 4.4 percent based on 52 weeks in 2023
- Net earnings of $931.7 million, down 8.5 percent, and adjusted net earnings of $972.9 million, down 3.3 percent
- Fully diluted net earnings per share of $4.11, down 5.5 percent, and adjusted fully diluted net earnings per share of $4.30, unchanged versus last year
- Successful completion of supply chain modernization program
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