Sobeys parent company Empire reports $385M Q3 loss, sales up from year ago

Empire Co. Ltd. reported a loss of $385 million in its latest quarter, hit by one-time costs related to the closing of its Voilà grocery delivery facilities in Alberta and pausing the online service's expansion in the Vancouver area.

The company, whose banners include Sobeys, Safeway, Farm Boy and IGA, says its loss amounted to $1.68 per diluted share for the 13-week period ended Jan. 31 compared with a profit of $146 million or 62 cents per share a year earlier.

On an adjusted basis, Empire says it earned 72 cents per diluted share in its latest quarter compared with an adjusted profit of 62 cents per diluted share in the same quarter last year.

Sales in what was the company's third quarter amounted to $7.89 billion, up from $7.73 billion a year earlier. 

Food sales rose 3.0 per cent, while the company says fuel sales fell 11.4 per cent primarily due to lower prices due to the removal of the government carbon tax.

Empire says same-store sales were up 1.2 per cent, while same-store food sales gained 2.0 per cent.