12:05 PM EST - Metro Inc. : reported that its third-quarter net earnings were $120.0 million, an increase of 6.6% from $112.6 million in the same quarter last year. Net earnings per share rose 10.9% to $1.12 from $1.01 last year. Excluding banner conversion costs of $2.9 million before taxes and the tax expense decrease of $2.7 million recorded in the third quarter of 2009, 2010 third quarter net earnings and net earnings per share were up 7.3% and 10.9% respectively. Sales reached $3.561 billion up 1.4% from $3.513 billion last year. Same-store sales declined 0.6% in the third quarter due to deflation in certain product categories. Metro Inc.
shares T.MRU.A are trading down $0.66 at $43.15.
