Grocery chain Metro has boosted profits by passing on higher food costs to customers.
Grocery chain Metro has boosted profits by passing on higher food costs to customers. Stores have been trying to mitigate the effects of higher costs by absorbing them but that’s never a long-term strategy. Metro says the cost of its aggregate food basket has risen by 4 per cent during the quarter to March 14. The company’s same-store sales at locations open a year or more were up by 4.5 per cent. Total revenue was $2.707 billion with $111.6 million in profit, up 15.2 per cent on the same period last year.
