METRO INC. $58(Toronto symbol MRU; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 97.1 million; Market cap: $5.6 billion; Price-to-sales ratio: 0.5; Dividend yield: 1.5%; TSINetwork Rating: Average; www.metro.ca) continues to benefit from its October 2011 purchase of a 55% stake in Marché Adonis, which sells Mediterranean-style foods through five stores in Quebec. It also distributes foods to other retailers through warehouses in Montreal and Toronto.
In its fiscal 2012 third quarter, which ended July 2, 2012, Metro’s sales rose 3.8%, to $3.7 billion from $3.6 billion a year earlier. Marché added $81.3 million to Metro’s sales in the latest quarter. A new loyalty rewards program in Quebec and the company’s focus on fresh products are also encouraging repeat visits. Same-store sales rose 1.0% at its 600 supermarkets in Quebec and Ontario.
The higher sales helped increase Metro’s earnings by 16.0%, to $147.4 million from $127.1 million. Earnings per share rose 18.7%, to $1.46 from $1.23, on fewer shares outstanding.
Metro will probably earn $4.56 a share in fiscal 2012, and the stock trades at 12.7 times that estimate. The $0.86 dividend yields 1.5%.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
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The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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