Sobeys and Safeway parent company Empire reports Q1 profit and sales up from year ago
Empire, the parent company of Needs Convenience, reported a profit of $233 million.
Empire says it earned $233 million in its latest quarter, up from $212 million in the same quarter last year.
The grocery retailer, whose banners include Sobeys, Safeway, FreshCo and Farm Boy, says the profit amounted to $1.04 per diluted share for the quarter ended Aug. 1.
The result was up from a profit of 91 cents per diluted share a year earlier.
READ: Sobeys parent Empire to buy nine Morelli's pharmacies in Ontario
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Sales for what was Empire's first quarter totalled $8.48 billion, up from $8.26 billion.
Food sales totalled $7.92 billion, up from $7.79 billion a year ago, while fuel sales rose to $553 million, up from $467 million.
Same-store food sales rose 1.2%, while higher prices helped boost same-store fuel sales 18.9%.
