Metro's Grocery Price Hike Is Coming Soon & One Item Will See A 'Substantial' Jump
"Unfortunately, there will be some prices starting to go up."
The exterior of a Metro grocery store.
Higher grocery prices will be coming to Metro grocery stores as early as next week, and one product in particular is going to see a "substantial" increase.
In a virtual news conference on January 30, Metro CEO Eric La Fleche said that the company is negotiating and delaying increases requested by supplies "as best we can."
"Unfortunately, there will be some prices starting to go up," La Fleche said, as reported by The Canadian Press.
Due to problems with orange crops, shoppers will see an increase in the price of orange juice.
"That one's going to be substantial," he said. "We're clearly going to be selling a lot less orange juice."
Narcity reached out to Metro regarding how much the price of orange juice will go up and what other products might be affected, to which they replied they did not have further comment.
"'Our teams have negotiated actively with our suppliers mostly on the CPG side," La Fleche said on Tuesday, as per the email received by Narciry from Metro. "The number of requests (for price increases by suppliers) is down substantially from the highs of last year and the year before, that’s good news. The size of the demands is coming back to more normal levels. It can be too high in certain instances, so we are negotiating hard to bring it down."
According to Metro's first-quarter results, the company had sales of $4,974.2 million, up 6.5%, and net earnings of $228.5 million, down 1.1%.
These prices are confirmed at the time of publishing, but they can change at any time. Taxes and fees may not be included.