Metro profit drops under heat from competitors

MONTREAL — Grocery giant Metro posted greater losses than expected for the third quarter, hit by intensifying competition from rivals like Target and Walmart, especially in Ontario. Net earnings declined a full 40% to $83.6 million, while established store sales dropped 1.8%. Metro will invest some $250 million in its Ontario stores during 2014, and will close or convert 15 stores there. Read it all at theglobeandmail.com.