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Metro’s Earnings Dip Amid Labor Dispute | Toronto News
Metro’s Q3 earnings show modest sales growth but hit hard by a costly labor dispute at its Laval distribution center, slashing net earnings by 34.6% and costing $66M after taxes. Pharmacy sales surged 4.8%, while food sales at existing stores dipped 1.5%. Restructuring expenses added $42M, though expected to save $15M annually. CEO Eric La Flèche, set to retire, praised team resilience and emphasized pharmacy strength and discount strategy. Incoming CEO Marc Giroux takes the reins as Metro braces for ongoing disruption, aiming to keep Quebec stores stocked and secure a negotiated resolution…
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