reported sales growth and a slight decline in profits in its fourth quarter as the company completed investments in its supply chain.
Metro executives had previously said that higher-than-usual expenses related to investments in its supply chain would weigh on net earnings this fiscal year. That has included transitions to new automated distribution centres in Quebec and Ontario, which are now complete. Grocery prices have continued to be a pain point for many Canadians’ budgets. While food inflation has slowed compared to the double-digit increases seen in 2022 and 2023, consumers are still facing significantly higher prices than they were just a couple of years ago. And in recent months, grocery prices have been rising faster than overall inflation. On Tuesday, Statistics Canada reported the price of food bought in storesin October, compared with the same month one year ago.