<p>Canadian grocery retailer Metro has posted <b>higher-than-expected profits</b> for its latest quarterly report, according to Reuters.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Although Metro is facing some serious competition on its home turf of Canada from US retailers like <b>Wal-Mart</b> and <b>Target</b>, a recent <b>reorganization of its Ontario operations</b> has reportedly boosted sales and as a result the company has raised its dividend from 25 to 30 Canadian cents per share.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">"Our merchandising strategies and investments, as well as our reorganization of our Ontario store network enabled us to increase sales in a market that remains intensely competitive," Metro said in a statement.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">In the most recent quarter, Metro's sales were up 1.7% to <b>C$2.55 billion</b>, whereas analysts were only expecting <b>C$2.52 billion</b>. Same-store sales also rose by 1%.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">As AndNowUKnow previously reported, Metro reorganized its Ontario operations last quarter. This has resulted in a more efficient business. The company's recent increase in profits were undoubtedly in part the result of that <b>$40 million plan</b>.<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.andnowuknow.com/buyside-news/metro-carry-out-reorganization-ontario-stores-costs-estimated-40-million-cad-jordan-oku" target="_new"> Click Here to View Our Previous Article on Metro's Ontario Reorganization Plans </a><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">The company successfully reorganized its 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.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">So far, after news of the earnings report, Metro (MRU)'s share price remains relatively unchanged.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Stay tuned to AndNowUKnow for more financial news from the retail sector as it becomes available.<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/home.en.html" target="_new"> Metro </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
