MONTREAL -- Metro-Richelieu here said sales and earnings increased for the third quarter and 40 weeks ended July 3.
s U.S.) for the 16-week quarter and 6.7% to $2.0 billion for the year to date. Net income was up 11% to $18.4 million for the quarter and 11.4% to $43.5 million for the half.
As previously disclosed, Metro completed its acquisition in late June of 38 Loeb food stores in Ontario from Loblaw Cos., Toronto, with the purchase of three more stores pending. The company said at the time it expects to spend approximately $34 million over the next three years to renovate the Loeb stores.