Metro takes aim at its costs

Article Excerpt

METRO INC., $60.77, is a buy. The company (Toronto symbol MRU; Shares ooutstanding: 244.1 million; Market cap: $14.5 billion; TSINetwork Rating: Average; Dividend yield: 1.7%; www.metro.ca) is using automation to cut its labour and other costs. As part of that plan, Metro is building a new distribution centre in Toronto that uses automated equipment to handle fresh and frozen foods. This $400-million facility should open fully in January 2022. The company is also spending $420 million to build an automated distribution centre for fresh and frozen products in Terrebonne, Quebec, just north of Montreal. This facility should open in 2023. In addition, Metro will expand its produce and dairy products distribution centre in Laval. It expects to complete that project in 2024. Metro Inc. remains a buy. buy…