MONTREAL -- Metro here said last week investment and new merchandising programs enabled it to post its 42nd consecutive quarter of growth in its operating income in the 12-week period ended March 17, with operating income rising 15.7% to $26.6 million.
> For the 24-week first half, sales grew 5.2% to $1.4 billion, and earnings increased 35.4% to $35.5 million. Earnings per share rose from 51 cents to 69 cents.
During the second quarter, the company and its retailers invested $32.1 million, adding 262,600 square feet to its retail network, which now totals over 9 million square feet.
Commented Pierre H. Lessard, Metro president and chief executive officer, "The company has now achieved 42 consecutive quarters of constant growth of its operating income.
"The investments of more than $300 million in the retail network since 1995, along with new merchandising programs, are the prime factors that contributed to the company's success.
"We are confident that the company will achieve during the coming quarters continued growth in all sectors."
