CANADA: Sobeys earnings drive Empire growth
Paul Sobey, president and CEO said: "Empire's consolidated earnings and improving financial
condition continue to reflect the strong earnings performance of Sobeys. Together with above-plan
performance from our real estate division and our investments and other operations, we are pleased to report another solid quarter."
The company recorded net earnings of C$68.3m (US$66.3m) in the three months to 30 January, compared to C$61.3m in the third quarter last year. Revenues reached C$3.84bn up 1%.
Sobeys, the company's food retailing division, reported sales for the third quarter of C$3.77bn compared to C$3.74bn for the same quarter last year, an increase of 0.9%. Sobeys' same-store sales increased by 0.3%.
Sobeys reported third quarter net earnings of $63.5m, an increase of 18%.
For further details on Empire's results, go here.
Empire Co., the owner of Canadian retailer Sobeys, said today (10 September) that the grocer saw profits rise almost 8% in its fiscal first quarter....
Empire, operator of Canadian grocery chain Sobeys has posted an almost 9% rise in annual earnings to reach C$301.9m (US$284.7m) on the back of solid performances from both its food and retail business...
Sobeys owner, Empire Company Limited, has reported a lift in revenues and earnings for its full year and fourth quarter....
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