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Eric La Flèche Discusses METRO's 2022 Fourth Quarter Results

Eric La Flèche Discusses METRO's 2022 Fourth Quarter Results


MONTREAL, CANADA
Thursday, November 17th, 2022

Happy Friday, everybody! We have some exciting news to share with you on this fine morning. Retailer METRO has reported its fourth quarter results for the period ending September 24, 2022, reporting an 8.3 percent increase in sales and topping $4.4 billion.

Eric La Flèche, President and Chief Executive Officer, METRO"Our 2022 fiscal year ended with a solid performance in the fourth quarter as our teams worked tirelessly to offer products at affordable and competitive prices in the current high-inflation environment, which we know is difficult for many consumers. Our diversified business model allowed us to maintain stable gross margins while delivering good value to our customers, as reflected in overall tonnage growth and market share gains in the quarter. We are confident that our dedicated teams, multiple banners, strong private label offering, effective weekly promotions, and loyalty programs position us well to continue to meet the needs of our customers as we navigate in this period of turbulence," declared Eric La Flèche, President and Chief Executive Officer.

In addition to this sales growth, METRO saw an 8 percent increase in food same-store sales, suggesting that the retailer's food business continues to see success. A press release noted that net earnings were $168.7 million, down 13.0 percent, and adjusted net earnings were $219.4 million, up 9.4 percent.

METRO recently released its 2022 fourth quarter results, detailing an 8.3 percent increase in sales, surpassing $4.4 billion

Highlights from the 2022 fiscal year include:

  • Sales of $18,888.9 million, up 3.3 percent
  • Net earnings of $849.5 million, up 2.9 percent and adjusted net earnings of $922.1 million, up 7.9 percent
  • Fully diluted net earnings per share of $3.51, up 5.4 percent, and adjusted fully diluted net earnings per share of $3.82, up 11.0 percent

For more details, check out METRO's press release here.

METRO will surely have more news to share in the future, and we will be here to spread the word.

METRO
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