Skip to main content

Empire reports $130.6M Q1 profit, up from $95.6M a year ago

Sobeys parent company reports increases across the board including same-store sales
(CNW Group/Sobeys Inc.)

Empire Co. Ltd. says it earned a profit of $130.6 million in its latest quarter, up from $95.6 million in the same quarter last year.

The parent company of the Sobeys grocery chain says the profit amounted to 48 cents per share for the 13 weeks ended Aug. 3.

That's compared with a profit of 35 cents per share in the same period a year earlier.

On an adjusted basis, Empire says it earned 49 cents per share for the quarter, up from 37 cents a year ago.

Analysts on average had expected a profit of 48 cents per share, according to financial markets data firm Refinitiv.

Sales totalled $6.74 billion, up from $6.46 billion, while same-store sales excluding fuel increased 2.4%.

This ad will auto-close in 10 seconds