Canadian Manufacturing

Sobeys parent Empire Co. reports Q1 sales and profit up from year ago

Sales totalled $6.46 billion, up from $6.27 billion


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STELLARTON, N.S.—Empire Company Ltd. reported a first-quarter profit of $95.6 million, up from $54.0 million a year ago.

The parent company of Sobeys says the profit amounted to 35 cents per share for the quarter ended Aug. 4 compared with a profit of 30 cents per share in the same quarter last year.

Sales totalled $6.46 billion, up from $6.27 billion.

Same-store sales excluding fuel sales were up 1.3 per cent compared with a 0.5 per cent increase in the same quarter last year.

On an adjusted basis, Empire says it earned $100.2 million or 37 cents per share for the quarter, up from an adjusted profit of $87.5 million or 32 cents per share a year ago.

Analysts had expected a profit of 42 cents per share, according to Thomson Reuters Eikon.

News from © Canadian Press Enterprises Inc. 2016

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