The CEO of Metro Inc. says the plan to jump Ontario’s minimum wage in stages to $15 by January 1, 2019 will cost his firm $45 to $50 million in 2018. Eric R. La Fleche says the Montreal grocer will try to control that impact but he offered no particular methods. His comments were contained in Metro’s financial report for the 16 weeks ended July 1 and follow similar warnings by other retailers and a coalition representing a broad range of business groups.
BAYVIEW AND EGLINTON STORE
Among the bits of information in the report was note of a slight decrease in same store sales — in Ontario and Quebec down 0.2 perent. The store at Eglinton Ave. E. and Bayview Ave. which sits on company-owned land has been under enormous pressure from the chaos of LRT construction and intense competition. New competitors to the historically top-grossing Metro location include Longo’s in Leaside Village and Whole Foods at Bayview and Broadway. But there are many more and some still to come. Perhaps the trendiest name in all grocerydom — beating even WF — is Organic Garage. It is signed on to open a store at Laird Dr. and Canvarco Rd. in a large development (79,000 sq. feet) from Quaestus Corp. Farm Boy, another grocer with a name almost too cute for food, is also on its way. Grocer to anchor complex at Laird Dr. and Canvarco Rd. Farm Boy (and others) want to make it big in Toronto
