Metro Inc. reports that it earned $252.4 Million in its most recent quarter, a decrease of $263.5M in the quarter before the pandemic.
According to the grocery and drugstore retailer, the profit was $1.03 per share in the 16-week period ending July 3. This is down from $1.04 per share a year earlier.
The company’s third quarter sales were $5.72 Billion, down from $5.84 Billion last year.
The quarter’s COVID-19-related expenses totaled $38million, compared to $107 million for the same period last year.
Metro reported a quarter-end adjusted profit of $1.06 per diluted stock, compared to $1.08 per share last year.
According to Refinitiv, analysts had on average expected an adjusted profit per share of $1.13 for the quarter.