Grocery retailer Empire Co. Ltd. reports $146.1M Q3 profit, as sales rise

Empire Co. Ltd. says it earned a third-quarter profit of $146.1 million as its sales rose during the period. 

The parent company of grocery retailer Sobeys says the profit amounted to 62 cents per diluted share for the 13-week period ended Feb. 1, compared with a profit of $134.2 million or 54 cents per diluted share a year ago. 

Sales for the quarter totalled $7.73 billion, up from $7.49 billion a year earlier. 

The increase came as same-store sales rose 2.5%.  Same-store sales growth, excluding fuel sales, amounted to 2.6%. 

On an adjusted basis, Empire says it earned 62 cents per diluted share in its latest quarter, which was the same compared with its third quarter last year.