Metro Inc

MRU: XTSE (CAN)
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Metro Earnings: Produce Strike Drags Margins but Network Reset Looks Prudent; Shares Fairly Valued

Metro's third-quarter results featured a 1.4% sales increase and adjusted EPS of CAD 1.24 (down 18.4%). Food same-store sales fell 1.5%, while pharmacy same-store sales grew 4.8%. Gross margin contracted 100 basis points from an ongoing labor strike at its Laval produce distribution center.

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