Empire Co. said this week its Q3 profits grew by 15.4 percent. The Nova Scotia-based owner of Sobeys, Safeway, and FreshCo reported net earnings of $203.4 million ($0.77 per share), up from $176.3 million ($0.66) a year earlier. Same-store sales edged down by 1.7 percent, excluding fuel, but remained 8.3 percent higher than the comparable period of 2020, on the eve of the pandemic. The acquisition of Longo’s, including its Grocery Gateway e-retail business, boosted profits. Higher food prices contributed to the company’s total sales.
Empire posts solid Q3
Most Recent
Most Read
RONA completes sale of DC near Montreal
Fri, April 19th, 2024
Home Hardware marks 60 years
Fri, April 19th, 2024
Retail Council event will tackle HR questions
Fri, April 19th, 2024
Construction spending slips in February
Fri, April 19th, 2024
Wolseley adds a store in British Columbia
Thu, April 18th, 2024
Canadian Tire voted one of Canada's most trusted brands
Thu, April 18th, 2024
Amazon's European shipments will ride the rails
Thu, April 18th, 2024
Throwback Thursday: Ten years ago we reported on the giant salaries that CEOs were paid
Thu, April 18th, 2024
Federal budget: Capital gains tax hike will hit business owners
Wed, April 17th, 2024
Retailers among Canada’s Greenest Employers
Wed, April 17th, 2024