The number is beyond imagination: Metro and Jean Coutu sell $5 billion worth of food and goods every quarter. The Quebec giant's profits in the grocery and pharmacy sector fell slightly to $229 million in October, November and December.
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The Montreal company continues to benefit from food inflation, posting a 6.5% increase in first-quarter sales, it said Tuesday morning.
The increase is 4% for Jean Coutu and Brunet and 6% for Metro and Super C.
For another quarter, Metro has been increasing the value of its products, be it lipstick or sliced bread. Quebecers continue to see rising prices on the shelves of the chain's stores.
Inflation in grocery stores in Quebec and Canada in 2023 (%)
| Quebec | Canada | |
| January | 11.4 | 11.4 |
| FEBRUARY | 10.2 | 10.6 |
| march | 10.6 | 9.7 |
| April | 9.6 | 9.1 |
| May | 9.2 | 9 |
| June | 10.1 | 9.1 |
| July | 10.1 | 9.5 |
| August | 8.1 | 6.9 |
| September | 6 | 5.8 |
| October | 5.3 | 5.4 |
| November | 4.3 | 4.7 |
| December | 4.7 |
Source: Statistics Canada
Profit fell compared to the first quarter of the previous year. They increased from $235 million to $229 million.
Metro President Eric La Flèche will address journalists and investors early Tuesday afternoon.
