Channels / Drug / Grocery

Metro Sales Up, Launches Share Buyback

January 29, 2013
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Metro Inc., the grocer and drugstore operator based in Montreal, Canada, announced Tuesday that its same-store sales rose 1.5 percent in its fiscal first quarter, while net earnings rose nearly 22 percent.

The company also announced a stock buyback of 2 million shares by April 30 through private agreements. The purchase is part of a 6 million share buyback program launched in September 2010 and renewed last September.

Metro ranked 19thon the PLB Top 35 list with an estimated $2.4 billion in private label grocery sales in 2011.

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