18:03:27 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Metro Inc
Symbol MRU
Shares Issued 256,247,006
Close 2018-08-15 C$ 41.88
Market Cap C$ 10,731,624,611
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FP/CP say Metro warns of food price hikes

2018-08-16 09:45 ET - In the News

The Financial Post reports in its Thursday edition that Metro chief executive officer Eric La Feche says customers should prepare for higher prices in light of the tariff dispute with the United States. A Canadian Press dispatch to the Post reports that Mr. La Feche says, "We're starting to get demands from some suppliers who are, whose products will be, affected by the new tariffs." Ottawa implemented tariffs on Canada Day on a number of American-made goods, including yogurt, orange juice and maple syrup, in retaliation for U.S.-government imposed tariffs on Canadian steel and aluminum products, which are also putting pressure on some Canadian food manufacturers. Metro is currently reviewing suppliers demands and negotiating prices, says Mr. La Fleche. He says, "If it's legitimate and if it's industry-wide, sometimes we won't have a choice and we will have to accept." He adds Metro has already agreed to some minor cost increases. Metro will continue to ensure its retail prices are competitive, he says, but expects the company, as well as the market as a whole, will have to accept some cost increases. Ontario's new minimum wage, which rose to $14 at the start of the year, is adding extra pressure on prices.

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