September 23rd, 2019

Empire Co. Ltd. reports $130.6M Q1 profit, up from $95.6M a year ago

By The Canadian Press on September 12, 2019.

STELLARTON, N.S. – Empire Co. Ltd. says it earned a profit of $130.6 million in its latest quarter, up from $95.6 million in the same quarter last year.

The parent company of the Sobeys grocery chain says the profit amounted to 48 cents per share for the 13 weeks ended Aug. 3.

That’s compared with a profit of 35 cents per share in the same period a year earlier.

On an adjusted basis, Empire says it earned 49 cents per share for the quarter, up from 37 cents a year ago.

Analysts on average had expected a profit of 48 cents per share, according to financial markets data firm Refinitiv.

Sales totalled $6.74 billion, up from $6.46 billion, while same-store sales excluding fuel increased 2.4 per cent.

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

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