Metro spent $ 137 million due to COVID-19

The pandemic continues to propel sales at Metro, whose expense bill for COVID-19 has so far stood at $ 137 million. Faced with the craze for online orders, the company will open a new store dedicated to this service next summer to serve Montreal.

“This opening represents the next phase of our omnichannel strategy, adding capacity in a large urban area by leveraging our in-store assembly model,” President and CEO Eric R. La Flèche said in a statement. .

On Wednesday, Metro released financial results for its fourth quarter 2020, which ended September 26. The food giant’s revenue reached $ 4.14 billion, an increase of 7.4%.

Food stores and pharmacies saw their sales increase. For your information, online food sales increased 160% over last year in the fourth quarter.

“We achieved very good results in the fourth quarter thanks to a strong increase in turnover and good operating leverage in a difficult environment,” said the big boss.

For its entire last fiscal year, Metro posted sales of $ 17.99 billion. This is an increase of 7.3% compared to the previous vintage.

In order to improve its online grocery service, Metro also hopes to offer consumers, by the end of fiscal year 2021, the option of in-store pick-up from around 100 points of sale.

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