Empire Company (EMP.A), the parent of grocery retail chain Sobeys, has reported a fiscal first-
quarter profit of $187.5 million as its sales climbed 4.1% from a year ago.
The Stellarton, Nova Scotia-based company said its profit amounted to $0.71 per share for the
quarter that ended on August 6.
That compares with a profit of $188.5 million, or $0.70 per share, a year ago when it had more
stock outstanding. Sales in the most recent quarter amounted to $7.94 billion, up from $7.63
billion a year earlier.
The company said same-store sales for its fiscal first quarter rose 3.3%, while same-store sales,
excluding fuel, grew 0.4%.
Empire said the sales growth was driven by increased fuel sales, higher prices for grocery
items, and the expansion of its FreshCo brand into Western Canada.
Empire Company’s stock is down 2% this year and changing hands at $37.79 per share.
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