Luis Alvarez
Please note all $ figures in $CAD, not $USD, unless otherwise stated.
Introduction
I’d be hard pressed to find a grocer I like more than Metro (TSX:TSX:MRU:CA). Historically, the company has been a compounder, delivering strong growth on both the top and bottom line. Since I last discussed the company back in December 2023, the company has been building out its network of distribution centers and has been generating cost efficiencies to drive margin expansion. In this article, I’ll provide an update to my original investment thesis, analyze the latest quarterly results, and explain why I’m a buyer of the company’s shares, even after the recent run up.
Background
Metro is one of Canada’s largest grocers with a network of 992 food stores. If you’re a Canadian like me and you’ve never heard of them, don’t fret. The company generally operates only in Eastern Canada, mostly in Ontario and Quebec, so it…
