Nov 13 (Reuters) - Canadian grocer Metro Inc reported a lower quarterly profit, hurt by intensifyingcompetition from U.S. retailers Target Corp and Wal-MartStores.
Metro, whose main domestic competitors are Loblaw Cos Ltd and Empire Co Ltd's Sobeys, said net earningsfell to C$83.6 million, or 88 Canadian cents a share, in thefourth quarter from C$145.1 million, or C$1.46 a share, a yearearlier.
Sales fell nearly 9 percent to C$2.61 billion.
The fourth quarter ended Sept. 30 had 12 weeks compared with13 weeks the previous year.
Sales at established stores, a key measure for retailers,fell 1.8 percent.
- Company Earnings
- Metro Inc
- Target Corp