MONTRÉAL, April 24, 2024 /CNW/ - METRO INC. (TSX:MRU) today announced its results for the second quarter of Fiscal 2024 ended March 16, 2024. 2024 SECOND QUARTER HIGHLIGHTS  Sales of $4,655.5 million, up 2.2%  Food same-store sales(1) up 0.2%, and up 2.7% when adjusting for the Christmas week shift(2)  Pharmacy same-store sales(1) up 5.9%  Net earnings of $187.1 million, down 14.5%, and adjusted net earnings(1) of $206.4 million, down 8.4%  Fully diluted net earnings per share of $0.83, down 10.8%, and adjusted fully diluted net earnings per share(1) of $0.91, down 5.2% Ramp up of new automated Terrebonne distribution centre on track 12 weeks / Fiscal Year (Millions of dollars, except for net earnings per share) 2024 % 2023 % Change (%) Sales 4,655.5 100.0 4,554.5 100.0 2.2 Operating income before depreciation and amortization and impairments of assets 439.1 9.4 447.3 9.8 (1.8) Net earnings 187.1 4.0 218.8 4.8 (14.5) Fully diluted net earnings per share 0.83 — 0.93 — (10.8) Adjusted net earnings(1) 206.4 4.4 225.4 4.9 (8.4) Adjusted fully diluted net earnings per share(1) 0.91 — 0.96 — (5.2) 24 weeks / Fiscal Year (Millions of dollars, except for net earnings per share) 2024 % 2023 % Change (%) Sales 9,629.7 100.0 9,225.4 100.0 4.4 Operating income before depreciation and amortization and impairments of assets 907.2 9.4 909.3 9.9 (0.2) Net earnings 415.6 4.3 449.9 4.9 (7.6) Fully diluted net earnings per share 1.82 — 1.90 — (4.2) Adjusted net earnings(1) 441.4 4.6 463.0 5.0 (4.7) Adjusted fully diluted net earnings per share(1) 1.93 — 1.96 — (1.5) PRESIDENT'S MESSAGE "We are pleased with our sales performance in the second quarter on top of a strong quarter last year and with inflation continuing to decline. Our results met our expectations as we completed the bulk of the transition to our new automated fresh and frozen facility in Terrebonne. Going forward our teams are focused on ramping up productivity and we are now gearing up for the launch of the final phase of our Toronto automated fresh facility this summer. Finally, we are announcing today the launch of our MOI Rewards program in our Ontario food stores later this year, which will provide even more savings to our customers. We are confident that our sustained investments in our supply chain, our retail networks and our digital capabilities will continue to create long term value for our shareholders(3)", declared Eric La Flèche, President and Chief Executive Officer. OPERATING RESULTS SALES Sales in the second quarter of Fiscal 2024 ended on March 16, 2024 were $4,655.5 million, up 2.2% versus the second quarter of the prior year which ended on March 11, 2023, driven by higher sales in our retail network. Our food basket inflation was about 3.0%, down from 4.0% in the previous quarter.