Metro outstrips Q2 estimates

MONTREAL — Grocery giant Metro bested analyst expectations to post a same-store sales increase of 1% as competition continues to roil Canadian retailers. The company’s net income fell to $96.9 million, or C$1.07 per share, in the quarter ended March 15 from C$362.7 million, or C$3.80 per share, a year earlier. Meanwhile, sales rose 1.7% to $2.55 billion. Analysts had expected only about $2.52 billion in sales and a value of $1.02 per share, Reuters reports.