Grocery giant’s sales up, profits down in Q1

At supermarket and pharmacy giant Metro, sales in the first quarter of fiscal 2024 ended Dec. 23 were $4.97 billion, up 6.5 percent from the previous first quarter. Food same-store sales were up 6.1 percent and up 3.4 percent when adjusting for the timing of the Christmas season versus last year. Net earnings of $228.5 million were down 1.1 percent.

Pharmacy same-store sales were up 3.9 percent, with a 6.6 percent increase in prescription drugs and a 1.2 percent decrease in front-store sales.