Grocer Empire records $134.2M in Q3 net earnings, up 8.5% from year ago
By The Canadian Press on March 14, 2024.
STELLARTON, N.S. – The parent company of the Sobeys, Safeway and FreshCo grocery chains says net earnings in its latest quarter were up 8.5 per cent to $134.2 million. Empire Company Ltd. says that compares with net earnings of $125.7 million a year earlier. Its third quarter earnings amounted to 54 cents per diluted share compared with 49 cents per diluted share a year prior. Its adjusted net earnings for the period ended Feb. 3 totalled $153.1 million compared with $164.8 million a year before. Sales reached about $7.49 billion compared with roughly $7.48 billion a year ago. They were driven by growth in Empire’s discount and full-service businesses but offset by lower fuel sales largely triggered the sale of all of its retail fuel sites in Western Canada in the first quarter of its fiscal 2024. This report by The Canadian Press was first published March 14, 2024. Companies in this story: (TSX:EMP.A) 9-8
