The strong performance of Canadian retailer Sobeys has helped its parent Empire Co. report a rise in third-quarter earnings and revenues.
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.”
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
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.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
