Sobeys parent company Empire reports $207.8M Q1 profit, sales up from year ago

STELLARTON, N.S. – Empire Co. Ltd. says it earned $207.8 million in its latest quarter, down from $261.0 million a year ago as its sales edged higher.
The parent company of the Sobeys grocery chain says the profit amounted to 86 cents per diluted share for the 13-week period ended Aug. 3.
The result was down from a profit of $1.03 per diluted share in the same quarter last year when its bottom line was boosted by the sale of 56 gas stations in Western Canada.
On an adjusted basis, Empire says it earned 90 cents per share in its latest quarter, up from an adjusted profit of 78 cents per diluted share in the same quarter last year.
Sales for what was the company’s first quarter totalled $8.14 billion, up from $8.08 billion a year earlier.
Same-store sales for the quarter were up 0.5 per cent, while same-store sales, excluding fuel, increased 1.0 per cent.
This report by The Canadian Press was first published Sept. 12, 2024.
Companies in this story: (TSX:EMP.A)