Metro Inc. reported quarterly profits of $198 million on sales of $4.3 billion, though the grocer warned that surging inflation could start eating into its margins. Metro’s profits in its second quarter, ended March 12, represented a 5.3 per cent increase year over year. The report comes amid the worst food inflation in 13 years , with grocery bills up almost 9 per cent in March compared to the previous year, according to Statistics Canada’s latest consumer price index. Metro’s internal gauge on food-basket inflation for the quarter was just below 5 per cent. If inflation persists, along with labour shortages, Metro forecast that it “could put pressure” on the company’s margins.

Source: National Post April 21, 2022 13:02 UTC