MONTREAL — Metro Inc. has wrapped up financing for its $4.5 billion (Canadian) deal to acquire the Jean Coutu Group. The Canadian food and drug retailer updated the status of the Jean Coutu acquisition on Tuesday in reporting its fiscal 2018 first-quarter results. Metro said sales rose 4.7% year over year to $3.11 billion, while
VARENNES, Quebec — Retail network sales rose in the fiscal 2018 third quarter at the Jean Coutu Group, which posted declined corporate sales and earnings. On Thursday, the company also reaffirmed the closing timetable for its acquisition by Canadian food and drug retailer Metro Inc. The $4.5 billion (Canadian) Jean Coutu-Metro merger transaction, announced in
MONTREAL — Jean Coutu Group shareholders have overwhelmingly approved the sale of the pharmacy chain to fellow Quebec retailer Metro Inc. A near-unanimous 99.9% of votes cast sanctioned the $4.5 billion transaction, which was well above the two-thirds requirement. Shareholders of Coutu are being offered a combination of cash and stock worth about $24.50 per
MONTREAL — Jean Coutu Group shareholders have overwhelmingly approved the planned sale of the pharmacy chain to Quebec food and drug retailer Metro Inc. Jean Coutu said Wednesday that a near-unanimous 99.9% of votes cast sanctioned the $4.5 billion (Canadian) transaction, which was well above the two-thirds requirement. Under the Jean Coutu acquisition deal, the
MONTREAL — The acquisition of the Jean Coutu Group by Metro Inc. will create a $16 billion food and drug retailer with 1,307 stores in Quebec, Ontario and News Brunswick. Metro has agreed to purchase Coutu for $24.50 per share in cash and stock in a total deal valued at $4.5 billion ($3.6 billion U.S.).
VARENNES, Quebec — Retail and corporate sales climbed at Jean Coutu Group in the fiscal 2018 second quarter, the first reporting period since its $4.5 billion (Canadian) deal to be acquired by Metro Inc. Net profit per share in the quarter ended Sept. 2 topped analysts’ consensus forecast but came in two cents less than
MONTREAL — Just days after confirming talks about a potential deal, Metro Inc. and the Jean Coutu Group have agreed to merge. The companies said Monday that Metro plans to acquire Jean Coutu Group for $24.50 per share in cash and stock in a total deal valued at $4.5 billion ($3.6 billion U.S.). Under the
VARENNES, Quebec — Double-digit gains in the pharmacy hoisted Jean Coutu Group’s retail store network sales in the fiscal 2018 first quarter. Jean Coutu said Tuesday that for the first quarter ended June 3, 2017, sales in the franchised store network totaled $1.15 billion (Canadian), up 7% from $1.08 billion a year earlier. Revenue rose
VARENNES, Quebec — Jean Coutu Group saw retail and corporate sales climb for the fourth quarter and full year of fiscal 2017. Adjusted earnings per share also were in line with analysts’ expectations, with year-end EPS topping the consensus estimate. Jean Coutu Group said Thursday that for the 14-week fourth quarter ended March 4, revenue
VARENNES, Quebec — The Jean Coutu Group won a key ruling in a long-running legal challenge that was brought by a pharmacist-owner. Coutu announced that the Superior Court of Quebec upheld the royalty clauses in its franchise agreements. In particular, the court determined that the clauses don’t violate section 49 of the Code of Ethics
VARENNES, Quebec — Jean Coutu Group’s retail network saw sales rise for the fiscal 2017 third quarter, propelled by gains in both the front end and pharmacy. Jean Coutu’s corporate business also posted increased sales for the quarter, and the company’s adjusted earnings per share (EPS) were in line with analysts’ forecast, despite a decline
VARENNES, Quebec — The Jean Coutu Group won a key ruling in a long-running legal challenge by a pharmacist-owner. Jean Coutu Group said Tuesday that the Superior Court of Quebec upheld the royalty clauses in its franchise agreements. In particular, the court determined that the clauses don’t violate section 49 of the Code of Ethics
VARENNES, Quebec — A rise in front-end sales hoisted revenue at Jean Coutu Group’s retail store network for the fiscal 2017 second quarter. The Canadian drug store operator also saw corporate sales climb in the quarter and topped financial analysts’ consensus forecast for adjusted earnings per share. Jean Coutu said Wednesday that for the second
VARENNES, Quebec — Sales gains in the front end helped lift revenue for the Jean Coutu Group retail store network in the company’s fiscal 2017 first quarter. Jean Coutu said Tuesday that for the first quarter ended May 28, sales for its franchise store network edged up 1.5% to nearly $1.079 billion (Canadian) from about
