Metro Q3 sales rose but EPS missed estimates
Metro Inc. says it will not accept cost increases from its suppliers over a three-month period in order to keep grocery prices stable during the holidays.
The grocer says this is a long-standing practice at Metro to avoid retail price changes during the busiest time of the year.
Marie-Claude Bacon, a spokeswoman for the Montreal-based company, says this applies to Metro's private-label brands and national brand products and runs from Nov. 1 to Feb. 5.
Metro's comments come a day after Loblaw Companies Ltd. said it would freeze prices on all its No Name products until next year as double-digit food inflation sends grocery bills spiralling.
Loblaw said it locked in prices of the popular house brand, which includes more than 1,500 grocery items, until Jan. 31, 2023.
However, Metro's comments suggest it's not without precedent for grocers to hold the line on prices during the holiday shopping season.