benzinga67d ago
MONTRÉAL, Jan. 27, 2026 /CNW/ - METRO INC. (TSX:MRU) today announced its results for the first quarter of Fiscal 2026 ended December 20, 2025. 2026 FIRST QUARTER HIGHLIGHTSSales of $5,285.8 million, up 3.3%Food same-store sales(1) up 1.6% and up 1.9% when adjusting for the Christmas shift(3)Pharmacy same-store sales(1) up 3.9%Net earnings of $226.3 million, down 12.8% and adjusted net earnings(1) of $248.7 million, up 1.3%Fully diluted net earnings per share of $1.05, down 9.5% and adjusted fully diluted net earnings per share(1) of $1.16, up 5.5%Earnings adjusted for the negative impact of $15.9 million ($21.6 million before taxes) for the direct costs related to the temporary shutdown of our frozen food distribution centre in TorontoDeclared dividend of $0.4075 per share, up 10.1% versus last year12 weeks / Fiscal Year(Millions of dollars, except for net earnings per share)2026%2025%Change (%)Sales5,285.8100.05,117.1100.03.3Operating income before depreciation and amortization 482.69.1481.59.40.2Net earnings226.34.3259.55.1(12.8)Fully diluted net earnings per share1.05—1.16—(9.5)Adjusted net earnings(1)248.74.7245.44.81.3Adjusted fully diluted net earnings per share(1)1.16—1.10—5.5PRESIDENT'S MESSAGE"We delivered sales and earnings per share growth in a challenging operating environment, marked by the temporary closure of our freezer in Toronto and persistent food inflation. We are pleased with our new discount store openings and our growing market share in a very competitive market. Our teams are committed to provide the best value possible to our customers and we are confident that our diversified business model, sustained investments in our retail networks and strong execution will continue to deliver long term growth for our shareholders(2).", declared Eric La Flèche, President and Chief Executive Officer.OPERATING RESULTSSALESSales in the first quarter of Fiscal 2026 ended on December 20, 2025 were $5,285.8 million, up 3.3% versus the first quarter of the prior year which ended on December 21, 2024. Sales were negatively impacted by the transfer of one significant pre-Christmas shopping day to the second quarter this year and by the temporary shutdown of our frozen food distribution centre in Toronto.Food same-store sales(1) were up 1.6% in the first quarter of Fiscal 2026 (2025 — 1.0%) and up 1.9% when adjusting for the Christmas shift(3). Online food sales(1) were up 25.8% versus last year (2025 — 18.6%). Our food basket inflation was below the reported CPI of 4.1% for food purchased from stores. Pharmacy same-store sales(1) were up 3.9% (2025 — 5.1%), with a 5.1% increase in prescription drugs(1) and a 1.3% increase in front-store sales(1), primarily driven by health and beauty and partially offset by a delayed cough and cold season. When adjusting for the Christmas shift(3), front-store sales(1) were up 1.7%.OPERATING INCOME BEFORE DEPRECIATION AND AMORTIZATIONThis earnings measurement excludes financial costs, taxes, depreciation and amortization.Operating income before depreciation and amortization for the first quarter of Fiscal 2026 totalled $482.6 million, or 9.1% of sales, an increase of 0.2% versus the corresponding quarter of ...Full story available on Benzinga.com