Skip to content

Sobeys parent reports higher Q3 net income, but lower adjusted earnings

STELLARTON, N.S. — The company behind Sobeys and Safeway grocery stores reports its third-quarter sales and net income were higher than the same time last year, but adjusted earnings were down. Empire Company Ltd. of Stellarton, N.S.
0

STELLARTON, N.S. — The company behind Sobeys and Safeway grocery stores reports its third-quarter sales and net income were higher than the same time last year, but adjusted earnings were down.

Empire Company Ltd. of Stellarton, N.S., says its net income was $65.8 million or 24 cents per share in the 13 weeks ended Feb. 2.

That's up from $58.1 million or 21 cents per share in last year's fiscal third quarter.

Sales rose to $6.45 billion, up $218.1 million from $6.03 billion in the third quarter of fiscal 2018.

However, adjusted net earnings fell to $72.9 million or 27 cents per share from $89.9 million or 33 cents per share a year earlier.

Since last year's fiscal third quarter, Empire bought the Farm Boy grocery chain with 26 locations in Ontario.

 

Companies in this story: (TSX:EMP.A)

The Canadian Press




Comments

Rogers Media
6080 Young Street Halifax, NS, B3K 5L2 © 2006-2019 Rogers Media. All rights reserved.