The second quarter (Q2) of fiscal 2010 proved to be a positive one for Canadian retailer Metro Inc, with net earnings up 5.2 per cent year-on-year and diluted earnings per share jumping 8.8 per cent to C$0.74.
Group sales for the three-month period crept up by 1.1 per cent to C$2.57bn, compared with sales of C$2.55bn in 2009, with same-store sales down 0.7 per cent due to deflation in certain product categories.
'We are pleased with our second quarter results. Despite persistent deflation in certain produce categories our results improved on last year's excellent second quarter,' said group president and CEO Eric La Fléche. 'Consumers remain cautious and our teams constantly strive to provide them excellent value across all of our banners.
'Our financial position at the end of the second quarter of 2010 was very solid,' he added. 'We are confident that we will continue our growth in 2010.'
