03:39:39 EDT Sun 12 May 2024
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or Name
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CA



Metro Inc
Symbol MRU
Shares Issued 230,021,730
Close 2023-08-09 C$ 70.56
Market Cap C$ 16,230,333,269
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FP says Metro strike could drag on for a bit

2023-08-10 08:25 ET - In the News

The Financial Post reports in its Thursday, Aug. 10, edition that profits at Metro surged past analysts' expectations in the third quarter, prompting criticism from the union that represents thousands of workers on strike at more than two dozen of its Toronto-area supermarkets. The Post's Jake Edmiston writes that in response to Metro's earnings update on Aug. 9, Unifor said grocery clerks deserve "their fair share" of the company's double-digit profit gains. Unifor spokesman Paul Whyte said in a statement, "Frontline grocery workers need Metro to come back to the table with an improved wage offer." Metro chief executive officer Eric La Fleche said he wants a deal with the union that ensures the company can stay competitive in the grocery industry amid stubborn food inflation that has forced customers to become more and more price sensitive. The comments from both sides suggest the stalemate, which has shut down 27 Metro stores for more than 10 days, is likely to drag on. Negotiators with Metro and Unifor Local 414 have not returned to the bargaining table since union members rejected a tentative deal and walked off the job on July 29. Unifor says, "Metro workers are fighting for decent work and pay."

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