METRO INC. $63 (Toronto symbol MRU; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 91.7 million; Market cap: $5.8 billion; Price-to-sales ratio: 0.5; Dividend yield: 1.6%; TSINetwork Rating: Average; www.metro.ca) plans to close its produce and dairy distribution facility in St-Augustin-de-Desmaures, Quebec, and shift these operations to its recently opened plant in Laval.
The company will complete this move in March 2014. It did not say how much it will have to pay in severance or other expenses. However, the plant closure will help Metro cut its operating costs and compete with larger supermarket chains.
Metro is a buy.