CANADA: Sobeys posts rise in Q4 operating profit
Canadian grocery retailer Sobeys has reported a sharp rise in fourth-quarter operating earnings, as same-store sales rose 1.7%. Sobeys, Canada's number two grocery chain, reported earnings from continuing operations of C$40.7m (US$30.2m), compared to $22.6m a year earlier. Earnings for the year-ago period were excluding an $80.7m gain on the sale of Sobeys' Serca unit.
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