Ontario announced a "roadmap" for re-opening on April 27, which will include three stages of loosening restrictions. Meanwhile, essential services have continued to provide for Canadians in this crisis. Grocery retailers have seen increased activity over the course of the lockdown.
Metro (TSX:MRU) is a Montreal-based grocery retailer with a large footprint in the provinces of Quebec and Ontario. Shares of Metro have climbed 12% in 2020 as of close on April 27. The company released its second quarter fiscal 2020 results on April 22.
In this quarterly report, the last two weeks were impacted by the COVID-19 outbreak. Sales rose 7.8% from the prior year and food same-store sales were up 9.7%. Pharmacy same-store sales climbed 7.9% year over year. Overall, the impact of the COVID-19 pandemic represented an increase in net earnings per share of about $0.03.
Goodfood Market (TSX:FOOD) is a home meal solution service company that delivers meal kits to customers in Canada. Some investors will be familiar with the eruption in the stock price of the U.S.-based Blue Apron during this crisis. Similarly, Goodfood stock has climbed 23% so far in 2020.
The company released its first-quarter 2020 results on February 20. Revenue surged 90% year-over-year to $56.3 million and gross profit soared 150% to $16.2 million.
Its business model has thrived in this new environment that has forced many consumers to turn to home meal delivery. Goodfood still has not achieved profitability, but it is on an encouraging course.
