Metro soars 10% to near 2-year high on news of strategy revamp
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[SINGAPORE] Shares of department store retailer Metro advanced by 10 per cent on Tuesday (Sep 16), following news of its retail strategy revamp.
The counter closed on Monday at S$0.50. By 3.24 pm on Tuesday, it had risen 10 per cent or S$0.05 to S$0.55, with some 953,700 shares changing hands.
ShareInvestor data indicates this is the highest price the stock has hit since October 2023.
On Sunday, The Business Times reported on Metro’s plans to revamp its retail strategy to combat industry headwinds.
The group’s retail arm division posted a loss after tax of S$6.9 million for FY2025, versus a S$1.8 million profit in the year-ago period.
In a bid to improve business, Metro is looking to global tie-ups to and immersive concepts.
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