Canadian grocery retailer Sobeys has reported a sharp rise in fourth-quarter operating earnings, as same-store sales rose 1.7%.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
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.
The company’s sales rose to $2.57bn from $2.42bn.
Looking ahead, Sobeys said it expects a sales rise of between 6% and 8% in fiscal 2004, with net earnings per share rising between 12% and 16%.
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
