2024-03-07 06:07:16 ET
Summary
- Metro Inc. reports decent earnings despite economic pressures and operational inefficiencies due to new investments in distribution centers.
- Operating expenses are up, impacting margins, but the company expects this operating expense inflation to disappear in Q1 2025 run rates.
- The multiple is not great value, but it's not bad value either, as we think the company will execute reasonable growth over the next three years at least.
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Metro Inc.: Distribution Center Investments Dragging On Results