Sobeys parent Empire scaling back e-commerce investment amid profitability woes

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Empire,Voilà,Profitability

'We're losing more money than we had initially estimated, and this is actually masking the strength of our brick and mortar business.'

) is scaling back its investments in its e-commerce business Voilà, pausing the opening of a fulfilment centre in Vancouver, and ending an exclusive agreement with technology provider Ocado, as the business struggles to be profitable.

In addition to the opening pause in Vancouver, Empire has also ended its exclusive partnership with Ocado, the technology group that provides and operates the automated CFCs. The termination will result in a one-time charge of $11.9 million for Empire. "We remain extremely pleased with Voilà, and continue to believe that this is the best grocery e-commerce solution in Canada, and that it will be attractively profitable in the medium and long term," Medline said.Empire sales were essentially flat compared to last year, coming in at $7.4 billion in the fourth quarter. The company reported a profit of $148.9 million, or 61 cents per diluted share, in the fourth quarter of the year, down from $182.

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