Canadian retailer Sobeys saw its first-quarter profits increase by over 3% on the back of higher sales.
Sobeys’ parent company, Canadian conglomerate Empire Co., said yesterday (14 September) that the food retailer’s net earnings were up 3.6% to C$81.6m in the 13 weeks to 6 August. Operating income increased 1.6% to C$135.4m.
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The retailer saw its sales climbed 3.3% to C$4.11bn thanks to food inflation, the impact of new stores and better same-store sales, which increased 1.7%.
