Metro 10-month daily chart showing the breakout after the quarterly release. Metro will test major resistance at 48. RSI and MACD are confirming the intermediate uptrend and near-term uptrend.
Sales in the second quarter of 2017 reached $2,902.4 million, up 0.7% compared to $2,882.0 million in the second quarter of 2016. Same-store sales were up 0.3% (5.0% in the same quarter last year). Our food basket experienced more deflation than in the previous quarter, at about 2.0% (inflation of 3.0% last year), which largely explains our modest sales growth.
We realized net earnings of $132.4 million in the second quarter of 2017, an increase of 6.0% from $124.9 million for the corresponding quarter of 2016, and fully diluted net earnings per share of $0.56 versus $0.51 in 2016, an increase of 9.8%. Read more of the report………..
Metro Inc’s surging profit beats expectations as cost controls pay off. Link to the article.